December 1, 2015

Settlement for Lac-Megantic railway inches forward

Portland, Maine — A bankruptcy judge on Thursday morning will consider approval of the bankruptcy reorganization plan for the Montreal, Maine and Atlantic Railway. The railroad was responsible for an oil train derailment in 2013 that killed 48 people, leveled the downtown of Lac-Megantic, Quebec, and became a flashpoint for regulators in the United States [...]

Avantair forced into Chapter 7 bankruptcy

Avantair locked its doors to employees June 26 and ceased all operations. Now, less than two months later, executives have also been locked out, this time by the courts. Florida bankruptcy courts have allowed creditors to file Chapter 7 bankruptcy against the airline. Judge Catherine McEwen appointed a bankruptcy trustee to oversee the case and [...]