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Casualty Loss
12 Months Ended
Dec. 31, 2013
Casualty Loss  
Casualty Loss

NOTE 20 - CASUALTY LOSS

 

The Company’s French subsidiary, CXR AJ, sustained significant damage to a portion of its premises as a result of a fire in 2010. Building, inventory and equipment were impaired or totally destroyed. The Company’s insurers met immediate costs to replace or repair assets. Income of $300,000, for actual and anticipated proceeds in excess of the net book value of assets lost, was recognized in 2011. Further sums were payable and the remaining amount recognized in the Statement of Operations for the year ended December 31, 2012 was $473,000