5th Circ. Says Petroleum Co. Owes $3.8M For Plant Explosion

Law360, New York (January 23, 2013, 5:06 PM ET) -- The Fifth Circuit on Wednesday found that petroleum company Alon USA LP must pay $3.8 million to Factory Mutual Insurance Co. in connection with damages from a refinery explosion the insurer says was caused by Alon's negligence.

At issue in the appeal is not Alon's liability — which the company stipulated to prior to a bench trial in Texas federal court — but rather the determination of the value of the damaged facility. The lower court ruled that because no existing market for the plant exists...
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