Nautilus Marine Enterprises, Inc., Appellant v. Exxon Mobil Corporation and Exxon Shipping Company, Appellees

Summary

The Alaska Supreme Court affirmed the superior court’s interpretation of the settlement agreement as reserving the method of calculating prejudgment interest for the federal district court, rather than requiring compound interest in every circumstance. The court held that extrinsic evidence could be considered without a preliminary finding of ambiguity and that the superior court’s factual findings and contract interpretation were not clearly erroneous. It also upheld Exxon’s designation as the prevailing party.