CP to appeal court decision in land sale case

Canadian Pacific will appeal a decision issued by the Court of King's Bench in the case of Remington Development Corp. v. Canadian Pacific Railway Co. involving a land sale in Calgary, Canada.

"CP was surprised and disappointed at this judgement, which CP considers to contain significant legal and factual errors related to both liability and damages. CP has strong grounds for appeal and will vigorously fight this decision," CP officials said in a prepared statement issued last week.

On Oct. 20, the Court of King's Bench of Alberta issued a 200-page decision saying CP was in breach of a 2002 contract with Remington Development involving the sale of land in Calgary to the Province of Alberta.

The decision states that Remington is entitled to CA$163,707,836 in damages from CP and the province, but did not indicate how the damages should be apportioned, CP officials said.