American-Hawaman Steamship Co. v. United States. the Alaskan

SWAN, Chief Judge.

This is a suit on a policy of war risk insurance covering the libellant’s steamship Alaskan which was requisitioned in May 1942 and was subsequently insured by the War Shipping Administration. The vessel was torpedoed and sunk on November 28, 1942. The War Shipping Administration determined “just compensation” for the vessel to be $776,003. This sum being deemed unsatisfactory by the libellant, it elected to receive 75 per cent, thereof and to sue for an additional amount, as permitted by the Merchant Marine Act of 1936, as amended, 46 U.S.C.A. § 1242(d). The libel was filed…