9th Circ. Lets Sierra Pacific Recover $20M For Dam Rebuild

Law360, New York (July 30, 2012, 3:03 PM EDT) -- The Ninth Circuit on Friday partly upheld a Nevada federal court’s ruling in Sierra Pacific Power Co.’s insurance dispute, saying the utility can recover from its insurers the full $19.8 million it costs to rebuild a California hydroelectric dam destroyed by a 1997 flood.

However, the panel also reversed the lower court's finding that the actual cash value of the Farad Dam in California was $1.3 million and asked the court to recalculate the amount by factoring in the appropriate depreciation. Sierra’s suit against insurers Hartford...
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