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Tag: Montreal Maine & Atlantic

Railroad in Explosion Has Its Canadian Assets Sold

| June 30, 2014

PORTLAND, Maine (AP) – The $15.85 million sale of a bankrupt railroad responsible for a deadly oil train derailment in Quebec is now complete with transfer of the company’s Canadian assets to new ownership. More than a month ago, parties completed the sale of U.S. assets of Montreal, Maine, and Atlantic to a subsidiary of […]

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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

| 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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Montreal, Maine and Atlantic Remains Afloat….For Now

| October 10, 2013

BANGOR, Maine (AP) – A federal judge has approved a $3 million loan to allow a beleaguered Maine-based railroad to stay afloat while its assets are sold during bankruptcy proceedings. Judge Louis Kornreich on Wednesday approved the loan from Camden National Bank to Montreal, Maine and Atlantic Railway, which is going through bankruptcy after one […]

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