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MT. AIRY REFINING CO. v. CLARK ACQUISITION, INC.

No. CA 2088.

470 So.2d 890 (1985)

In re Arbitration of MT. AIRY REFINING COMPANY v. CLARK ACQUISITION, INC.

Court of Appeal of Louisiana, Fourth Circuit.

Rehearings Denied June 26, 1985.

Attorney(s) appearing for the Case

Mack E. Barham, M. Lizabeth Talbott, Hervin A. Guidry, Robert E. Arceneaux, William D. Treeby, Appeal Counsel, David W. Gruning, Richard C. Stanley, Stone, Pigman, Walther, Wittmann & Hutchinson, New Orleans, for plaintiff-appellee; Samuel McW. Scoggins, Frost & Jacobs, Cincinnati, Ohio, of counsel.

Roy C. Cheatwood, James P. Browning, Jr., Nancy Scott Degan, Jones, Walker, Waechter, Poitevent, Carrere & Denegre, New Orleans, Bernard A. Barken, Robert N. Kahn, Shifrin, Treiman, Barken, Dempsey & Ulrich, St. Louis, Mo., for defendant-appellant.

Before GARRISON, KLEES, BYRNES, LOBRANO and ARMSTRONG, JJ.

KLEES, Judge.

This is an appeal from a judgment of the district court confirming an arbitration award in favor of Mt. Airy Refining Co. (MARCO) against Clark Acquisition, Inc. (Clark).

On August 31, 1981 Clark purchased a refinery and terminating facility from MARCO on the terms of 8.5 million dollars cash and approximately 2.5 million on a promissory note. The note reflected 9% interest and was payable in twenty-four monthly installments. The sales contract...

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