Printer Friendly

LAACO ANNOUNCES VERDICT IN DISPUTE WITH RAPID TRANSIT DISTRICT

 LOS ANGELES, Dec. 15 /PRNewswire/ -- LAACO Ltd. announced today that a Los Angeles Superior Court jury has awarded it $3,442,577 in an eminent domain lawsuit against the Southern California Rapid Transit District. In addition, the award carries statutory interest, which is estimated to be approximately $1,600,000. Attorney's fees and costs of trial will be deducted from these proceeds.
 The SCRTD filed the eminent domain action in 1987 to acquire a permanent subsurface easement and various construction easements in connection with the Metrorail subway tunnel located underneath a portion of the Los Angeles Athletic Club and its adjacent properties.
 Both LAACO and the SCRTD have a right to appeal the decision through Feb. 12, 1993. LAACO is evaluating the award and no decision has been made as to an appeal or the disposition of funds.
 LAACO Ltd. is a California limited partnership which owns and operates the Los Angeles Athletic Club and the California Yacht Club and has other real estate holdings.
 -0- 12/15/92
 /CONTACT: Alexander Auerbach of Alexander Auerbach & Co., 818-501-4221, for LAACO Ltd./


CO: LAACO Ltd.; Southern California Rapid Transit District ST: California IN: TRN SU:

JL -- LA027 -- 7258 12/15/92 13:53 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 15, 1992
Words:202
Previous Article:NISSAN REPORTS FIRST 10-DAY SALES FOR DECEMBER 1992
Next Article:WALL STREET FINANCIAL CORP. ANNOUNCES STRATEGIC ALLIANCE
Topics:


Related Articles
SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT PROVIDES BUS SCHEDULES FOR SUNDAY, MAY 3
LAACO LTD. LAUNCHES CLUB AND RESORT MANAGEMENT
LAACO LTD. ISSUES STATEMENT
LAACO REDEEMS INTEREST IN DRS LTD. PARTNERSHIP
LAACO SAYS DRS HAS PREPAID $3.2 MILLION NOTE ON EASTWOOD DEVELOPMENT IN FLORIDA
LAACO to Create New Corporate Subsidiaries for Athletic and Yacht Club Operations
LAACO, Ltd. Announces Lease and Purchase-Option Agreement for 10 Self-Storage Properties.
LAACO, Ltd. Announces Extension of Option Agreement For Sale of Topanga Property to American Land Conservancy.
LAACO, Ltd. Announces Commencement of Operations of 10 Self-Storage Properties.
LAACO, Ltd. Announces Purchase of Self-Storage Properties.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters