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Tag: bankruptcy

Sale of Maine-Based Railroad Delayed

Sale of Maine-Based Railroad Delayed

| March 19, 2014

The sale of a Maine-based railroad responsible for a derailment that killed 47 people in Quebec has been delayed. Canadian regulators say a New York investment firm must file additional paperwork before finalizing its purchase of the Montreal, Maine and Atlantic Railway. The Portland Press Herald reports the scheduled sale date of March 31 could […]

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Claims Deadline for Railroad Company

Claims Deadline for Railroad Company

| March 12, 2014

  PORTLAND, Maine – A bankruptcy judge has indicated a willingness to set June 13 as the deadline for claims against a Maine-based railroad responsible for a derailment that killed 47 people last summer in Quebec. Judge Louis Kornreich (KORN’-rysh) didn’t issue the order Wednesday, pending the outcome of a proceeding in Canada. But Michael […]

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Derailment Victims Seek Mitchell’s Help

Derailment Victims Seek Mitchell’s Help

| January 30, 2014

  AUGUSTA, Maine (AP) – Some victims of last year’s fiery train derailment in Canada want U.S. Sen. George Mitchell from Maine to serve as negotiator as they seek money from the bankrupt railroad company. A document filed with the U.S. Bankruptcy Count in Bangor late Wednesday from the Meyers & Flowers law firm shows […]

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Sale of MM&A Approved

Sale of MM&A Approved

| January 23, 2014

  PORTLAND, Maine (AP) – Judges in the U.S. and in Canada have approved the sale of a Maine-based railroad that went bankrupt after a fiery oil train derailment last summer in Canada. Chapter 11 trustee Bob Keach said New York-based Fortress Investment Group hopes to close on the purchase of Montreal, Maine and Atlantic […]

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MM&A Auction Could Happen Next Week

MM&A Auction Could Happen Next Week

| January 17, 2014

PORTLAND, Maine (AP) – Montreal, Maine & Atlantic, the Maine-based railroad that declared bankruptcy after one of its trains caused a disaster that killed 47 people in Canada, will go up for auction on Tuesday if additional bidders are deemed to be qualified. Trustee Robert Keach said one additional bid had been received before Friday’s […]

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