Echo Acceptance Corp. Wins Jury Award; HRSI Found in Breach of Contract.LITTLETON, Colo.--(BUSINESS WIRE)--Aug. 2, 1999-- EchoStar Communications Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DISH, DISHP) announced today that a Federal Court jury in Colorado found that Household Retail Services Incorporated (HRSI HRSI High-temperature Reusable Surface Insulation HRSI Human Rights Students Initiative (Central European University) HRSI High-Resolution Satellite Imagery HRSI Hard Red Spring Wheat Index ) breached its contract with Echo Acceptance Corporation (EAC EAC an abbreviation used in studies of complement, in which E represents erythrocyte, A antibody, and C complement. ), resulting in a judgment against HRSI of more than $5 million. From 1989 to 1995, HRSI purchased private label credit card accounts from EAC and agreed to pay EAC a percentage of the finance and insurance charges billed on the accounts until the accounts are liquidated DAMAGES, LIQUIDATED, contracts. When the parties to a contract stipulate for the payment of a certain sum, as a satisfaction fixed and agreed upon by them, for the not doing of certain things particularly mentioned in the agreement, the sum so fixed upon is called liquidated damages. (q.v. . On Dec. 31, 1994, HRSI unilaterally terminated the agreement and wrongfully discontinued making payments on loans it previously purchased. EAC immediately filed suit in U.S. District Court in Colorado, alleging breach of contract. On July 30, 1999, the court found that HRSI breached its contract with EAC. EAC, a subsidiary of EchoStar, was represented at trial by attorney T. Wade Welch of Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . EchoStar Communications Corp., includes three interrelated in·ter·re·late tr. & intr.v. in·ter·re·lat·ed, in·ter·re·lat·ing, in·ter·re·lates To place in or come into mutual relationship. in business units:
- DISH Network(TM) is EchoStar's state-of-the-art DBS system that
offers customers over 300 channels of digital video and
CD-quality audio programming, fully MPEG-2/DVB compliant hardware
and installation.
- EchoStar Technologies Corporation designs, manufactures and
distributes DBS set-top boxes, antennas and other digital
equipment for the DISH Network and various international
customers that include ExpressVu Canada and Telefonica's Via
Digital system in Spain. ETC also provides uplink center design,
construction oversight and project integration services for
customers internationally. ETC also oversees EchoStar Data
Networks Corporation in Atlanta, a leading supplier of
MediaStream(R) technology for distributing Internet content over
satellite networks.
- Satellite Services provides the delivery of video, audio and data
services to business television customers and other satellite
users. These services include satellite uplink, satellite
transponder space usage, and other services. Satellite Services
also administers SKY VISTA, a direct broadcast satellite service
offering over 27 channels of popular digital satellite television
programming to viewers in Alaska, Hawaii, Puerto Rico and the
U.S. territories in the Caribbean.
DISH Network See DBS. currently serves approximately 2.6 million customers. DISH Network is a trademark of EchoStar Communications Corporation EchoStar Communications Corporation (NASDAQ: DISH) is the parent company of DISH Network and the maintainer of the satellite fleet that provides the signal that DISH Network markets. . DISH Network is located on the Internet at: www.dishnetwork.com. |
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