A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Property sale benefits shareholders
A Pennsylvania appellate court decided that the profits from the sale of nondepreciable watershed property deemed no longer useful should inure to the benefit of the shareholders, not to that of the ratepayers. The Philadelphia Suburban Water Company decided that two parcels of land acquired during the 1920s were no longer needed and declared a property dividend of the parcels. A subsequent order from the Public Utility Commission that the gain be passed on to the ratepayers was appealed by PSWC. The court agreed that the gain should inure to the shareholders because the property was nondepreciable.
Property sale benefits shareholders
A Pennsylvania appellate court decided that the profits from the sale of nondepreciable watershed property deemed no longer useful should inure to the benefit of the shareholders, not to that of the ratepayers. The Philadelphia Suburban Water Company decided that two parcels of land acquired during the 1920s were no longer needed and declared a property dividend of the parcels. A subsequent order from the Public Utility Commission that the gain be passed on to the ratepayers was appealed by PSWC. The court agreed that the gain should inure to the shareholders because the property was nondepreciable.
Property sale benefits shareholders
1982-02-01
1 pages
Article (Journal)
Electronic Resource
English
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