LAWSUITS NEWS & LEGAL INFORMATION
Schools Benefit
Midland, MI: (Mar-16-08) The City of Midland brought charges against Midland Cogeneration Venture (MCV) over a 12-year-old tax agreement. The suit was filed with the city seeking an estimated net refund of $127.3 million that it said MCV owed. Sources stated that the case, which covers the tax years of 2001 through 2007, reached a resolution in which MCV has agreed to donate back $8.3 million to the three school jurisdictions.
Company spokespersons said that additionally, approximately $2 million will be saved in interest under the agreement. Records show that the proposed deal was approved by the Midland City Council, and was to be sent to the Michigan Tax Tribunal for review and final approval. Though motions were filed that threatened to delay the settlement, a final response from the tribunal stated that the two parties had reached a fair and equitable settlement with no help from the state departments. [MIDLAND DAILY NEWS: MIDLAND, MCV UNITED AGAINST ATTEMPTED SETTLEMENT DELAY]
Published on Mar-17-08
Company spokespersons said that additionally, approximately $2 million will be saved in interest under the agreement. Records show that the proposed deal was approved by the Midland City Council, and was to be sent to the Michigan Tax Tribunal for review and final approval. Though motions were filed that threatened to delay the settlement, a final response from the tribunal stated that the two parties had reached a fair and equitable settlement with no help from the state departments. [
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