MEMORANDUM OPINION
KAPLAN, District Judge.
Plaintiff Royal Insurance Company of America ("Royal") brought this action as subrogee of Corning, Inc., against Air Express International ("AEI") in order to recover damages for goods that Corning hired AEI to ship, and which were lost by AEI while en route to London. There is no genuine dispute that AEI is liable to Royal for the loss; the question is whether AEI is liable to Royal for the full value of the lost...
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