August 21, 2014

Montreal, Maine & Atlantic files for bankruptcy

Montreal, Maine & Atlantic Ltd, the railway involved in last month’s deadly derailment and explosion in Lac-Megantic, Quebec, filed for bankruptcy protection on Wednesday, saying the move would enable the company to preserve the value of its assets.

The railway said it lost much of its freight business following the July 6 disaster, which killed 47 people and devastated the town of Lac-Megantic.

Read the complete story at NBC News.