Tuesday, March 10th, 2009
9th Cir: Interest on Exxon Valdez Settlement
The 9th Circuit has reversed U. S. District Judge Russel Holland and held that he erred in rejecting Exxon’s attempt to introduce extrinsic evidence to attack an alleged agreement to use compound rather than simple interest on settlement funds.
The appeals court said:
The fact that Defendants acknowledged in post-contractual briefing that interest would not be compounded under […]