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ELECrRONICA.LLY Fn.ED
DOC#;
UNITED STATES DISTRICT COURT
DATE FiiD:l 0I (51(I
SOUTHERN DISTRICT OF NEW YORK
------------------------------------------------------------ J{
OLIN CORPORATION,
Plaintiff, 84. Civ. 1968 (TPG)
- against
..PROPOSED RULE 54(b) JUDGMENT
INSURANCE COMPANY OF NORTH
AMERICA, AL.,
Defendants.
------------------------------------------------------------ J{
After the Court's initial rulings during a hearing held on March 29, 2011, a jury trial
between April 4, 2011 and April 11, 2011, this action proceeded to a bench trial held on May 3,
2011 through May 6, 2011, and on May 31,2011 through June 3, 2011, as well as a subsequent
hearing on September 8, 2011, the Honorable Thomas P. Griesa presiding, to adjudicate issues
concerning the entitlement ofthe plaintiff, Olin Corporation ("Olin"), to recover on policies of
insurance sold to Olin by defendant Century Indemnity Company as successor to Insurance
Company of North America ("INA"), in respect of costs and liabilities incurred by Olin in
connection with environmental contamination at the Morgan Hill Site located in Morgan Hill,
California (the "Morgan Hill Site"). The parties having appeared by their respective attorneys;
and proof having been presented on behalf of Olin and INA; the Court having applied the
relevant rulings reached during the above-mentioned hearings, jury trial, and bench trial to the
defense costs incurred at the Morgan Hill Site, and having expressly determined that there is no
just reason for delay, and having expressly directed that final judgment upon certain issues be
entered, it is hereby
ORDERED, ADJUDGED AND DECREED as follows:
SLC-645 1482-2
Case 1:84-cv-01968-TPG Document 1649 Filed 10/14/11 Page 1 of 9
1. The Court hereby adopts and incorporates by reference, as if set forth in their
entirety, the rulings issued in this case addressing Olin's insurance coverage claim against INA
with respect to the Morgan Hill Site, except to the extent such rulings were later amended or
modified.
2. Olin offered into evidence Exhibit PX 1386 documenting $9,022,681.05 in third-
party litigation costs in connection with the Morgan Hill Site. Olin has agreed to withdraw
$451.46 from this amount and has therefore sought $9,022,229.59 in recoverable defense costs
from INA in connection with third-party litigation.
3. INA has raised certain challenges to the amount of defense costs in Olin's claim.
Olin and INA have now reached an agreement and stipulated that Olin incurred $8.7 million in
defense costs in connection with the third-party litigation. Olin maintains that it is entitled to
recover the $8.7 million in stipulated third-party litigation costs in connection with the Morgan
Hill Site under the INA Policies. Considering and giving effect to the Court's rulings, the Court
finds that Olin is entitled to recover from INA the stipulated third-party litigation costs in the
amount of $8.7 million pursuant to the terms of the INA Policies.
4. For all of the reasons enumerated at the hearing of September 8, 2011, the Court
determines that Olin is entitled, under N.Y. CPLR 5001(a), to recover prejudgment interest on
the $8.7 million in third-party litigation costs owed under the INA Policies in respect of the
Morgan Hill Site.
5. In accordance with all ofthe Court's foregoing rulings, including those articulated
on the record on June 3, 2011, and September 8, 2011, the Court hereby expressly directs entry
of Judgment for Olin and against INA for third-party litigation costs and prejudgment interest (as
provided for under N.Y. CPLR 5001(a)) as calculated and set forth in the attached Exhibit A,
2
SLC-6451482-2
Case 1:84-cv-01968-TPG Document 1649 Filed 10/14/11 Page 2 of 9
awarding Olin $8.7 million in principal and $5,184,451.66 in interest through September 29,
2011, with an additional $2,145.21 per day from September 29,2011 until this Judgment
becomes final. This judgment addresses only Olin's claims against Defendant INA with respect
to the Morgan Hill Site, which are fully resolved as the result of the Court's rulings.
6. Under Rule 54(b) of the Federal Rules of Civil Procedure, the Court expressly
determines that there is no just reason for delay in entering final judgment as set forth above.
First, Olin's claims against INA with respect to the Morgan Hill Site presented distinct factual
and legal issues to the Court. Second, it is in the interest of the parties and ofjudicial efficiency
to resolve finally the dispute between Olin and INA as to the Morgan Hill Site. Now that Olin's
claims and INA's defenses respecting the Morgan Hill Site have been resolved by rulings, trial,
or summary judgment, it would be impractical and unfair to all concerned to place those resolved
issues on hold until all disputes concerning the remaining sites are resolved. Third, in apparent
recognition of these principles, the Second Circuit has already approved of entry of various 54(b)
judgments in this litigation at particular sites in this case. See Olin Corp. v. Certain
Underwriters at Lloyd's London and London Market Ins. Cos., 347 Fed. App'x 622 (2d Cir.
2009) (taking jurisdiction of 54(b) judgment); Olin Corp. v. Insurance Company of North
America, 221 F.3d 307 (2d Cir. 2000) (same); Olin Corp. v. Insurance Company of North
A m e r i c ~ 966 F.2d 718, 720 (2d Cir. 1992) (same); Olin Corp. v. Insurance Company ofNorth
America, 929 F.2d 62,63 (2d Cir. 1991) (same). This judgment is consistent with the prior Rule
54(b) judgments and is entered for similar reasons.
3
SLC-645 1482-2
Case 1:84-cv-01968-TPG Document 1649 Filed 10/14/11 Page 3 of 9
IT IS SO ORDERED,
Dated: .Septem.beE _, 201 1_
Honorable Thomas P. Oriesa
c J ~ 17) 2--0 rI
United States District Judge
4
SLC-6451482-2
Case 1:84-cv-01968-TPG Document 1649 Filed 10/14/11 Page 4 of 9
0lIft .. _
iiQigon HIII- Thinj Party I.JiIaaIIcn ~
1# of Days From InIIoice
(except fOr Mactec)
1# of [)aye From Invoice
fOr Mactec
Tola! Adjusted Amount
(BefOre Interest)
Date of Calculadon
Annual Interest Rate
45
45
$ 8,100,000
912912011
9.0%
Totel AdJusted Amount (Before Intorestl $ 8,700,000.00
Total Amount of Interest 5,184,451.66
Total Adjusted Amount Plus
Intereet on Adjuated Amount $13,884,451.66
Case 1:84-cv-01968-TPG Document 1649 Filed 10/14/11 Page 5 of 9
Olifty.1NA
14",gon t f ~ Third Pat\v UIigaIIon eo.;.
/I of Days From Invoice
(exceptfor Mactec)
/I of Days From Invoice
for Mactec
Total AdjU$ted Amount
(Before Interest)
Date of Calculation
IAnnualln_ Rate
45
45
$ a.700.000
9129/2011
9.0%
Total Adjusted Amount (Before lmerest) $ 8.700,000.00
Total Amount of Interest 5,184.451.66
Total Adjusted Amount PI....
Interest on Adjusted Amount $ 13,884.451.66
Case 1:84-cv-01968-TPG Document 1649 Filed 10/14/11 Page 6 of 9
OIlnv.INA
lIOI'gomHIlI - Third Party liIigoIon Cools
# of Days From invoice
(except for lAactec)
1# of Days FrOll1 Invoice
for Mactec
Total Adjusted Amount
(Before In_I
Dele of Calculation
Annual Interest Rate
45
45
$ 8,700,000
912912D11
11.0%
Total Adjusted Amount (Before Interest) $ 8,700,000,00
Total AmOunt of Interest 5,184,451.66
Total Adjllllted Amount Plus
interest on AdJU$led Amount S 13,884.451.66
Case 1:84-cv-01968-TPG Document 1649 Filed 10/14/11 Page 7 of 9
Otinv.tHA
Morgan HI Third Patiy Lillgation CcsIs
'1# of Diys From Invoice
(except for Mactec)
1# of Days From kIvOice
for Mactec
'Total AdjuSted Amount
(Selolelnterest)
Date of Galcul.tion
Annual Interest Rat.
45
45
$ 8,700,000
912912011
9.0%
Total Adjusted Amount (Before Inlerest) $ 8,700,000.00
Total Amount of Interest 5,184,451,66
Totel AdjuSted Amount Plus
Interest on Adjusted Amount $13.884,451.66
Case 1:84-cv-01968-TPG Document 1649 Filed 10/14/11 Page 8 of 9
OJinv.tNA

# of Days From Invoice
(except for Mactec)
# of Days From Involc&
for M.ctec
Tolal AdjuslOO Amount
(l3ofore Interest)
Dale of Calculation
Annuallnlereet Rale
45
45
$ 8,700,00(1
9/29/2011
9.0%
TolII Adjusted Amount (Betono Interest) $ 8,700,000.00
Total Amount of Intereal 5,184,451.66
Total Adjusted Amount Plus
Intaresl on Adjusted Amount $13,884,451.66
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