- United Transportation Union - http://utu.org -

Maine railroad in deadly Canada derailment sold

Posted By rob On January 22, 2014 @ 9:36 am In News,Recent Updates | Comments Disabled

PORTLAND, Maine – A railroad that went bankrupt after a fiery oil train derailment killed 47 people last summer in Canada was sold at auction Tuesday to a subsidiary of a New York City-based investment management company.

Railroad Acquisitions LLC, a subsidiary of Fortress Investment Group, won the closed-door bidding for Montreal, Maine and Atlantic Railway, according to one of the losing bidders. The winning bid goes before a U.S. bankruptcy judge in Maine and a Superior Court judge in Quebec on Thursday.

Read the complete story at the Bismarck Tribune.


Article printed from United Transportation Union: http://utu.org

URL to article: http://utu.org/2014/01/22/maine-railroad-in-deadly-canada-derailment-sold/

Copyright © 2011 United Transportation Union. All rights reserved.