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AMERICAN HOME ASSUR. CO. v. MASTERS' SHIPS

No. 03 CIV. 0618(JFK).

423 F.Supp.2d 193 (2006)

AMERICAN HOME ASSURANCE COMPANY, New York Marine & General Insurance Co., Bluewater Insurance ASA, Generali France Assurances, Hamburger Versicherung VVAG VERS A (Converium), Hamburger Versicherung VAG VERS B(R + V), Gothaer VAG, ING Insurance, and "the Ethniki" Hellenic General Company S.A., Plaintiffs, v. MASTERS' SHIPS MANAGEMENT S.A., and Endeavour Navigation S.A. and the Royal Bank of Scotland PLC, Defendants.

United States District Court, S.D. New York.

March 23, 2006.

Attorney(s) appearing for the Case

Waesche, Sheinbaum & O'Regan, P.C., New York, Of Counsel: Francis M. O'Regan, Esq., Richard W. Stone II, Esq., for Plaintiffs.

Freehill, Hogan & Mahar LLP, New York, Of Counsel: Eric E. Lenck, Esq., Michael Fernandez, Esq., John F. Karpousis, Esq., for Defendants Masters' Ships Management S.A. and Endeavour Navigation S.A.

FINDINGS OF FACT and CONCLUSIONS OF LAW

KEENAN, District Judge.

INTRODUCTION

This is a maritime insurance action arising out of the grounding of the bulk carrier SATURN II off the western coast of India on June 25, 2002. Plaintiffs are a group of insurers that underwrote hull and machinery (H & M) insurance on the SAURN II. Defendants are the owners and managers of the vessel, respectively.1 Plaintiffs seek...

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