Gibbs v. Hawaiian Eugenia Corp‪.‬

JON O. NEWMAN, Circuit Judge: This case presents issues concerning the rights of an insurer who has honored a claim under a marine insurance policy when the indemnified insured releases a third party allegedly liable for the loss. The question presented is whether the execution of the release in the circumstances of this case destroyed an enforceable right of subrogation on the part of the insurer. Hawaiian Eugenia Corporation (""Hawaiian"") appeals from the September 16, 1991, judgment of the United States District Court for the Southern District of New York (Morris E. Lasker, Judge) denying Hawaiian's motion for summary judgment and granting summary judgment in favor of Caryl A. Vaughan Gibbs, individually and as representative of all members of those syndicates at Lloyd's, London severally subscribing to Lloyd's policy no. 601/BS 11654 (""Underwriters""). Hawaiian also appeals from the October 23, 1991, order denying its motion for reargument.