OK Lumber Co., Inc. v. Alaska RR Corp.

OPINION

EASTAUGH, Justice.

I. INTRODUCTION

OK Lumber Company appeals the superior court’s affirmance of an arbitration decision that established the fair market value of land the Alaska Railroad Corporation leased to OK Lumber. Per the lease, fair market value affects the annual rent. OK Lumber argues that the arbitrator exceeded his authority when he interpreted the lease to exclude consideration of environmental contamination in determining the property’s fair market value. OK Lumber also contends that the superior court erred when it awarded attorney’s fees to the railroad.

The lease states…