The Plaintiff exported a large quantity of electrical transmission wire to Ethiopia to be used in a construction project in that country, and it insured the cargo with the Defendant insurer against all risks of ocean carriage. When the wire arrived in Ethiopia, it was found that some coils were damaged. The undamaged part of some coils was long enough to be cut and reused; other wire amounted to a total loss without salvage value, as the undamaged part was too short to be reused. The Plaintiff claimed on the insurance policy, but the Defendant denied an indemnity, saying that the damage had occurred before the goods were shipped from China, and that the insurance was bought after the goods were already damaged. The Defendant also argued that the Ethiopian buyer of the goods was the proper person in interest to claim under the insurance policy, not the Plaintiff. The Court held: (1) the Plaintiff was entitled to claim an indemnity under the policy, as the Ethiopian purchaser of the wire had transferred its right of claim to the Plaintiff, which was the manager of the project in Ethiopia, and the named assured under the policy; (2) the evidence established that the goods were damaged during ocean carriage, and so were covered by the all risks policy, with the result that the Defendant was liable to make an indemnity; (3) combining the cost of cutting and preparing the reusable wire and the cost of the wire that was totally lost, the Defendant was liable to pay an indemnity of USD2,338,824.51, plus interest.