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Article: Rhode Island Supreme Court Issues Further Ruling In Capital Properties' Condemnation Litigation.
- Article from:
- PR Newswire
- Article date:
- December 21, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EAST PROVIDENCE, R.I., Dec. 21 /PRNewswire/ -- Capital Properties, Inc. (Amex: CPI) today announced that the Rhode Island Supreme Court had entered an Order directing that CPI's claims for breach of contract with respect to its Agreement with the State of Rhode Island and the State's post-judgment claim that interest be reduced from 12% to the Treasury Bill rate be presented to the Rhode Island Superior Court. The Rhode Island Supreme Court also ordered the State to pay to Capital Properties, Inc. on or before December 22, 1999, 50% of the condemnation award together with interest at the Treasury Bill rate. The Company estimates that the amount to be paid is approximately ...
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