ITC » Topics » Litigation

These excerpts taken from the ITC 10-K filed Feb 26, 2009.
Litigation
 
We are involved in certain legal proceedings before various courts, governmental agencies, and mediation panels concerning matters arising in the ordinary course of business. These proceedings include certain contract disputes, regulatory matters, and pending judicial matters. We cannot predict the final disposition of such proceedings. We regularly review legal matters and record provisions for claims that are considered probable of loss. The resolution of pending proceedings is not expected to have a material effect on our operations or consolidated financial statements in the period in which they are resolved.
 
  CSX Transportation, Inc.
 
On August 2, 2006, CSX Transportation, Inc. (“CSX”) filed a lawsuit in the United States District Court for the Eastern District of Michigan alleging that ITCTransmission caused damage to equipment owned by CSX and further claiming mitigation costs to protect against future damage. In January 2007, ITCTransmission received a notice from its insurance provider that it reserves its rights as to the insurance policy, asserting that damage claims of CSX arising from the contractual liability of ITCTransmission are not covered under insurance. In July 2008, ITCTransmission, by and through its insurer, reached a settlement agreement with CSX and the court entered an order of dismissal. Additionally, ITCTransmission has settled with its insurer the amount to be covered by insurance for this matter. During the year ended December 31, 2007, we recorded an accrual of $0.2 million for this matter in general and administrative expenses which was sufficient to cover our obligations under the settlement.
 
Litigation
 
We are involved in certain legal proceedings before various courts, governmental agencies, and mediation panels concerning matters arising in the ordinary course of business. These proceedings include certain contract disputes, regulatory matters, and pending judicial matters. We cannot predict the final disposition of such proceedings. We regularly review legal matters and record provisions for claims that are considered probable of loss. The resolution of pending proceedings is not expected to have a material effect on our operations or consolidated financial statements in the period in which they are resolved.
 
  CSX Transportation, Inc.
 
On August 2, 2006, CSX Transportation, Inc. (“CSX”) filed a lawsuit in the United States District Court for the Eastern District of Michigan alleging that ITCTransmission caused damage to equipment owned by CSX and further claiming mitigation costs to protect against future damage. In January 2007, ITCTransmission received a notice from its insurance provider that it reserves its rights as to the insurance policy, asserting that damage claims of CSX arising from the contractual liability of ITCTransmission are not covered under insurance. In July 2008, ITCTransmission, by and through its insurer, reached a settlement agreement with CSX and the court entered an order of dismissal. Additionally, ITCTransmission has settled with its insurer the amount to be covered by insurance for this matter. During the year ended December 31, 2007, we recorded an accrual of $0.2 million for this matter in general and administrative expenses which was sufficient to cover our obligations under the settlement.
 
Litigation
 
We are involved in certain legal proceedings before various courts, governmental agencies, and mediation panels concerning matters arising in the ordinary course of business. These proceedings include certain contract disputes, regulatory matters, and pending judicial matters. We cannot predict the final disposition of such proceedings. We regularly review legal matters and record provisions for claims that are considered probable of loss. The resolution of pending proceedings is not expected to have a material effect on our operations or consolidated financial statements in the period in which they are resolved.
 
  CSX Transportation, Inc.
 
On August 2, 2006, CSX Transportation, Inc. (“CSX”) filed a lawsuit in the United States District Court for the Eastern District of Michigan alleging that ITCTransmission caused damage to equipment owned by CSX and further claiming mitigation costs to protect against future damage. In January 2007, ITCTransmission received a notice from its insurance provider that it reserves its rights as to the insurance policy, asserting that damage claims of CSX arising from the contractual liability of ITCTransmission are not covered under insurance. In July 2008, ITCTransmission, by and through its insurer, reached a settlement agreement with CSX and the court entered an order of dismissal. Additionally, ITCTransmission has settled with its insurer the amount to be covered by insurance for this matter. During the year ended December 31, 2007, we recorded an accrual of $0.2 million for this matter in general and administrative expenses which was sufficient to cover our obligations under the settlement.
 
Litigation


 



We are involved in certain legal proceedings before various
courts, governmental agencies, and mediation panels concerning
matters arising in the ordinary course of business. These
proceedings include certain contract disputes, regulatory
matters, and pending judicial matters. We cannot predict the
final disposition of such proceedings. We regularly review legal
matters and record provisions for claims that are considered
probable of loss. The resolution of pending proceedings is not
expected to have a material effect on our operations or
consolidated financial statements in the period in which they
are resolved.


 




  CSX
Transportation, Inc.



 



On August 2, 2006, CSX Transportation, Inc.
(“CSX”) filed a lawsuit in the United States District
Court for the Eastern District of Michigan alleging that
ITCTransmission caused damage to equipment owned by CSX and
further claiming mitigation costs to protect against future
damage. In January 2007, ITCTransmission received a notice from
its insurance provider that it reserves its rights as to the
insurance policy, asserting that damage claims of CSX arising
from the contractual liability of ITCTransmission are not
covered under insurance. In July 2008, ITCTransmission, by and
through its insurer, reached a settlement agreement with CSX and
the court entered an order of dismissal. Additionally,
ITCTransmission has settled with its insurer the amount to be
covered by insurance for this matter. During the year ended
December 31, 2007, we recorded an accrual of
$0.2 million for this matter in general and administrative
expenses which was sufficient to cover our obligations under the
settlement.


 




Litigation


 



We are involved in certain legal proceedings before various
courts, governmental agencies, and mediation panels concerning
matters arising in the ordinary course of business. These
proceedings include certain contract disputes, regulatory
matters, and pending judicial matters. We cannot predict the
final disposition of such proceedings. We regularly review legal
matters and record provisions for claims that are considered
probable of loss. The resolution of pending proceedings is not
expected to have a material effect on our operations or
consolidated financial statements in the period in which they
are resolved.


 




  CSX
Transportation, Inc.



 



On August 2, 2006, CSX Transportation, Inc.
(“CSX”) filed a lawsuit in the United States District
Court for the Eastern District of Michigan alleging that
ITCTransmission caused damage to equipment owned by CSX and
further claiming mitigation costs to protect against future
damage. In January 2007, ITCTransmission received a notice from
its insurance provider that it reserves its rights as to the
insurance policy, asserting that damage claims of CSX arising
from the contractual liability of ITCTransmission are not
covered under insurance. In July 2008, ITCTransmission, by and
through its insurer, reached a settlement agreement with CSX and
the court entered an order of dismissal. Additionally,
ITCTransmission has settled with its insurer the amount to be
covered by insurance for this matter. During the year ended
December 31, 2007, we recorded an accrual of
$0.2 million for this matter in general and administrative
expenses which was sufficient to cover our obligations under the
settlement.


 




Litigation


 



We are involved in certain legal proceedings before various
courts, governmental agencies, and mediation panels concerning
matters arising in the ordinary course of business. These
proceedings include certain contract disputes, regulatory
matters, and pending judicial matters. We cannot predict the
final disposition of such proceedings. We regularly review legal
matters and record provisions for claims that are considered
probable of loss. The resolution of pending proceedings is not
expected to have a material effect on our operations or
consolidated financial statements in the period in which they
are resolved.


 




  CSX
Transportation, Inc.



 



On August 2, 2006, CSX Transportation, Inc.
(“CSX”) filed a lawsuit in the United States District
Court for the Eastern District of Michigan alleging that
ITCTransmission caused damage to equipment owned by CSX and
further claiming mitigation costs to protect against future
damage. In January 2007, ITCTransmission received a notice from
its insurance provider that it reserves its rights as to the
insurance policy, asserting that damage claims of CSX arising
from the contractual liability of ITCTransmission are not
covered under insurance. In July 2008, ITCTransmission, by and
through its insurer, reached a settlement agreement with CSX and
the court entered an order of dismissal. Additionally,
ITCTransmission has settled with its insurer the amount to be
covered by insurance for this matter. During the year ended
December 31, 2007, we recorded an accrual of
$0.2 million for this matter in general and administrative
expenses which was sufficient to cover our obligations under the
settlement.


 




These excerpts taken from the ITC 10-K filed Feb 29, 2008.
Litigation
 
We are involved in certain legal proceedings from time to time before various courts, governmental agencies, and mediation panels concerning matters arising in the ordinary course of business. These proceedings include certain contract disputes, regulatory matters, and pending judicial matters. We cannot predict the final disposition of such proceedings. We regularly review legal matters and record provisions for claims that are considered probable of loss. The resolution of pending proceedings is not expected to have a material effect on our operations or consolidated financial statements in the period in which they are resolved.
 
CSX Transportation, Inc.
 
On August 2, 2006, CSX Transportation, Inc. (“CSX”) filed a lawsuit in the United States District Court for the Eastern District of Michigan alleging that ITCTransmission caused damage to equipment owned by CSX and further claiming mitigation costs to protect against future damage. The total alleged damage in this lawsuit is approximately $1.1 million. In January 2007, ITCTransmission received a notice from its insurance provider that it reserves its rights as to the insurance policy, asserting that damage claims of CSX arising from the contractual liability of ITCTransmission are not covered under insurance. ITCTransmission has determined that an immaterial amount of the claimed damages relate to an alleged contractual liability, which, if proven, would not be covered under insurance and therefore would be payable by ITCTransmission. ITCTransmission intends to vigorously defend against this action. This litigation is in the early stages of evidence discovery and a trial date has not yet been set. During the year ended December 31, 2007, we recorded an accrual of $0.2 million for this matter in general and administrative expenses.
 
Litigation


 



We are involved in certain legal proceedings from time to time
before various courts, governmental agencies, and mediation
panels concerning matters arising in the ordinary course of
business. These proceedings include certain contract disputes,
regulatory matters, and pending judicial matters. We cannot
predict the final disposition of such proceedings. We regularly
review legal matters and record provisions for claims that are
considered probable of loss. The resolution of pending
proceedings is not expected to have a material effect on our
operations or consolidated financial statements in the period in
which they are resolved.


 




CSX
Transportation, Inc.



 



On August 2, 2006, CSX Transportation, Inc.
(“CSX”) filed a lawsuit in the United States District
Court for the Eastern District of Michigan alleging that
ITCTransmission caused damage to equipment owned by CSX and
further claiming mitigation costs to protect against future
damage. The total alleged damage in this lawsuit is
approximately $1.1 million. In January 2007,
ITCTransmission received a notice from its insurance provider
that it reserves its rights as to the insurance policy,
asserting that damage claims of CSX arising from the contractual
liability of ITCTransmission are not covered under insurance.
ITCTransmission has determined that an immaterial amount of the
claimed damages relate to an alleged contractual liability,
which, if proven, would not be covered under insurance and
therefore would be payable by ITCTransmission. ITCTransmission
intends to vigorously defend against this action. This
litigation is in the early stages of evidence discovery and a
trial date has not yet been set. During the year ended
December 31, 2007, we recorded an accrual of
$0.2 million for this matter in general and administrative
expenses.


 




This excerpt taken from the ITC 10-K filed Mar 8, 2007.
Litigation
 
We are involved in certain legal proceedings before various courts, governmental agencies, and mediation panels concerning matters arising in the ordinary course of business. These proceedings include certain contract disputes, regulatory matters, and pending judicial matters. We cannot predict the final disposition of such proceedings. We regularly review legal matters and record provisions for claims that are considered probable of loss. The resolution of pending proceedings is not expected to have a material effect on our operations or financial statements in the period they are resolved.
 
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