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All Gain From Sale Awarded to Shareholders
Carolina Water Service Inc. of North Carolina owned numerous water and sewer systems in the state. In 1993 and 1994, Carolina applied to the state utilities commission to relinquish its certificates of public convenience to provide water to two service areas and transfer its utilities' assets for those systems to a municipal utility department. Carolina also requested that its sole shareholder, Utilities Inc., keep 100 percent of the gain on the sale of the two systems. The public staff of the state commission challenged the distribution. The commission approved the sales and awarded all gain from the sales to Carolina's shareholder.
All Gain From Sale Awarded to Shareholders
Carolina Water Service Inc. of North Carolina owned numerous water and sewer systems in the state. In 1993 and 1994, Carolina applied to the state utilities commission to relinquish its certificates of public convenience to provide water to two service areas and transfer its utilities' assets for those systems to a municipal utility department. Carolina also requested that its sole shareholder, Utilities Inc., keep 100 percent of the gain on the sale of the two systems. The public staff of the state commission challenged the distribution. The commission approved the sales and awarded all gain from the sales to Carolina's shareholder.
All Gain From Sale Awarded to Shareholders
01.03.1997
1 pages
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
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