The plaintiff Rainbow Technicoloured Wood Veneer Ltd. ("Rainbow") owner of the cargo, a guillotine press, imported from its supplier in Italy Emme Elle S.P.A. de Canzi ("Emme Elle") has launched the instant action against the defendant Guardian Insurance Company of Canada ("Guardian"), the cargo insurer, and against the defendant Canada Maritime Limited ("Canada Maritime"), the carrier and owner of the defendant's vessel ("Canmar Conquest") for damage to the cargo in the course of ocean carriage from Italy to Canada in late December 1996 and early January 1997.