Air Separation, Inc. v. Underwriters at Lloyd's of London

ORDER

The memorandum disposition filed September 6, 1994, is redesignated as an authored opinion by Judge Hall.

OPINION

Air Separation, Inc., the owner of an aircraft insured by Underwriters at Lloyd’s of London and Participating Insurance Companies (“Underwriters”), appeals from the district court’s denial of its motion for post-judgment interest and sanctions in connection with its successful claim for payment under an insurance policy for loss by theft of avionics equipment. The district court had jurisdiction pursuant to 28 U.S.C. § 1332 . This court has jurisdiction pursuant to 28 U.S.C. § 1291 . We affirm in part and reverse in part.

I.

This case arises out of an insurance coverage dispute. On December 20,1984, avionics equipment was stolen from an aircraft owned by Air Separation and insured by Underwriters at Lloyd’s of London and Participating Insurance Companies (“Underwriters”). Although Air Separation was the designated loss-payee under the insurance policy, Underwriters paid the claim to a company that was leasing the aircraft. Air Separation sued Underwriters to recover under the policy, and the district court found Underwriters responsible to Air Separation for…