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PARSONS & WHITTEMORE v. YEARGIN CONST. CO., INC.

No. 83-7478.

744 F.2d 1482 (1984)

PARSONS & WHITTEMORE ALABAMA MACHINERY AND SERVICES CORPORATION and Parsons & Whittemore, Inc., Plaintiffs-Appellees, v. YEARGIN CONSTRUCTION COMPANY, INC., Defendant-Appellant. YEARGIN CONSTRUCTION COMPANY, INC., Plaintiff-Appellant, v. PARSONS & WHITTEMORE ALABAMA MACHINERY AND SERVICES CORPORATION and Parsons & Whittemore, Inc., Defendants-Appellees.

United States Court of Appeals, Eleventh Circuit.

October 26, 1984.

Attorney(s) appearing for the Case

M. Roland Nachman, Jr., Montgomery, Ala., for defendant-appellant.

Reggie Copeland, James E. Clark, Birmingham, Ala., for plaintiffs-appellees.

Before FAY, KRAVITCH and HATCHETT, Circuit Judges.

PER CURIAM:

In the appeal in this diversity case, Yeargin Construction Company challenges a district court's calculation of interest accruing on an arbitration award. We disagree with the district court's calculation of the interest and therefore reverse.

I. BACKGROUND

On November 29, 1979, an arbitration panel awarded appellant Yeargin Construction Company $5,300,000 to be paid by appellee Parsons & Whittemore. The panel stated that interest...

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