American National Fire Insurance Co. v. Mirasco, Inc.
United States District Court for the Southern District of New York
249 F. Supp. 2d 303 (2003)
Egypt banned import of IBP's beef livers after Mirasco's (plaintiff) shipment had already set sail, and the livers were turned back and resold in the U.S. at a much lower price without any formal Egyptian rejection certificate ever being issued; National Fire (defendant) denied Mirasco's marine-cargo insurance claim, arguing the goods weren't formally "rejected" and that any loss was an excluded loss of market since the livers were ultimately sold.
Whether, although goods covered by a marine-insurance policy are considered rejected even without an official final-rejection certificate from the destination country, coverage is excluded due to loss of market if the goods are sold in another country.