Revere Copper & Brass, Inc. v. Overseas Private Investment Corp.

628 F.2d 81 (1980)

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Revere Copper & Brass, Inc. v. Overseas Private Investment Corp.

United States Court of Appeals for the District of Columbia Circuit
628 F.2d 81 (1980)

Facts

Overseas Private Investment Corp. (OPIC) (defendant), a United States agency, insured Revere Copper & Brass, Inc. (Revere) (plaintiff) against losses incurred by Jamaica’s expropriation of Revere’s investment in a wholly owned subsidiary’s mining and refinery operation in Jamaica. The parties’ contract provided that any disputes would be settled by arbitration and the decision would be binding. Jamaica underwent a change in government, and Revere made a claim to OPIC for compensation, claiming that the new government’s actions constituted expropriation. OPIC denied the claim, and Revere sought arbitration, asking for $64,131,000. The arbitrators found that there was expropriatory action but awarded Revere $1,131,144. Revere filed an action in district court to vacate the arbitration award or correct the amount awarded on the basis of contra proferentem, the rule of construction that ambiguities in insurance contracts should be resolved in favor of the insured. Revere also claimed it had been compelled to accept the arbitration provision. The district court held that there was a strong public policy in favor of judicial enforcement of arbitration clauses. Revere appealed.

Rule of Law

Issue

Holding and Reasoning (Per curiam)

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