Century Aluminum successfully resolves insurance coverage litigation
Clients Century Aluminum Company
Jones Day represented Century Aluminum in a case involving insurance for large electric transformers, which were used by Monterey, California-based Century's Icelandic subsidiary Nordural ehf to produce aluminum products and are valued at approximately $5 million each. The transformers were seriously damaged in return shipment from Drammen, Norway where they were being serviced and repaired by the manufacturer, the ABB Group. Century/Nordural was required to significantly reduce production and sustained a significant business income loss as a result. Jones Day litigated this action against Century/Nordural's marine cargo insurer AGCS Marine Insurance Company (an Allianz subsidiary) in the Northern District of California, seeking damages for the damage to the transformers and the business income losses and breach of the implied covenant of good faith and fair dealing. The litigation was successfully resolved through a confidential settlement in October 2012.
Century Aluminum Company, Nordural ehf. v. AGCS Marine Ins. Co., No. 4:11-cv-02514-YGR (N.D. Cal.)