Court Opinion

ID: 9636831
Source: CourtListenerOpinion
Date Created: 2023-08-22 14:44:36.956995+00
Date Added: 2024-06-11T18:09:50.072868
License: Public Domain

Upon Petition for Rehearing.
PER CURIAM.
We have affirmed the district court’s judgment as to the amount recoverable by Pathfinder under part II of the policy providing for fixed charges.
Its petition for rehearing now, for the first time, claims that we should consider as to be included in fixed charges the item of depreciation, though it was not claimed in its complaint and it admits “was not mentioned” to the court below as an item of fixed charges. In answer to the petition, the Insurer contends that even if the Insured could so mend its hold, there was no depreciation in the 90-day period because there can be none on property which is destroyed, citing Fidelity-Phenix Fire Insurance Co. v. Benedict Coal Corp., 4 Cir., 64 F.2d 347, 353. To this the Insured replies that the premises were only partly destroyed. It is not clear to us, as claimed by the Insured, that the deduction of depreciation in determination of profits would just equal the amount added for depreciation to the fixed charges. We see no reason to consider the contention that the case should be reopened below on the ground of the Insured’s negligence as to its claim below, presented for the first time after argument, submission and decision of the appeal.
The petition also points out that we have sustained the district court’s item of award of $3,901.15 (an amount not contested here by the Insurer) on the issue of the claim of loss of net profits of the polymerization plant during the 90-day period in which it could have been constructed and operated. It contends that our decision that there be a retrial on the issue of net profits lost, may be construed as requiring a new trial as to the .lost profits of the polymerization plant. This is but one of the items in determining the total loss of net profits during the 90-day period. The sentence beginning on line 5, page 7 of our opinion, as printed [145 F. 2d 371, column 2, line 2], is orded amended to read as follows:
“We agree with the district’s item of loss of $3,901.15, not contested by Insurer, for the loss of net profits for the polymerization plant. However, the loss insured against is for the total of the net profits lost during the 90-day period from all the operations from which there may be a profit. On a retrial, if there should be shown a net loss instead of a net profit from the operation of the destroyed plant, the total net loss of profit would be the $3,901.15 uncontested *374loss from the polymerization planf to be constructed, less such net loss from the destruction of the existing plant.”
The petition for rehearing is denied.