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23 April 2009

CP Gets Partial Refund

 
CP Rail is getting back some of the money it had to pay for exceeding the revenue cap in the 2006-2007 crop year.
 
The railway paid $3.76 million to the Western Grains Research Foundation... plus a five percent penalty.
 
The Canadian Transportation Agency says $415,550 will be returned to CP Rail. This following a ruling by the Federal Court of Appeal. It said amounts collected by CP from the failure of shippers to meet the 24-hour load conditions under its MCB Incentive Program are not to be included in the railway's revenue.
 
The Western Grains Research Foundation uses the money to fund a variety of crop research projects.
 
 
   
Cordova Station is located on Vancouver Island British Columbia Canada