XML 44 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income From Cancellation of Debt
9 Months Ended
Nov. 30, 2012
Income From Cancellation Of Debt [Abstract]  
INCOME FROM CANCELLATION OF DEBT:
 
8.           INCOME FROM CANCELLATION OF DEBT:
 
On October 29, 2012, the Company, its affiliates, agents and representatives entered into a Settlement Agreement and Release (the "Agreement and Release") with the Police and Fire Retirement System of City of Detroit, its affiliates, agents and representatives (collectively, "PFRS").  In connection with the Company's bankruptcy, in 1993, the Company was ordered to pay PFRS a total of $1,056,226.85 over time in connection with an unsecured claim against the Company.  As of the date of the Agreement and Release, the Company has paid PFRS an aggregate of $359,653.27.  On October 31, 2012, pursuant to the Agreement and Release, the Company paid PFRS a lump sum payment of $475,000.00 as full and final satisfaction of PFRS' unsecured claim against the Company.  The Agreement and Release also provides for mutual releases among the parties.