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Article: Rhode Island Supreme Court Reverses Favorable Lower Court Decision.
- Article from:
- PR Newswire
- Article date:
- January 8, 2001
CopyrightCOPYRIGHT 2001 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., Jan. 8 /PRNewswire/ --
Capital Properties, Inc. (Amex: CPI) today announced that the Rhode Island Supreme Court had issued a decision reversing the judgment of the Superior Court which had awarded Capital Properties, Inc. post-judgment interest at the rate of 12% and the right to retain the interest on the State of Rhode Island's share of the condemnation proceeds credited to the State of Rhode Island pursuant to an agreement between Capital Properties, Inc. and the State of Rhode Island. As a result of the Supreme Court's ruling, Capital Properties, Inc. will not be entitled to any further payments with respect to the 1987 condemnation. ...
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