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.
- American Rescue Plan funding saves thousands of SMART pensions
- Secure your future. Vote!
- Solidarity with Kingspan workers
- Growth through unity
- SMART, labor allies convene at AFL-CIO Convention to build worker power
- N.J. SLD recognized for leadership, tapped to lead economic coalition
- Fortune Magazine highlights the benefits of a union sheet metal career
- SMART TD President Ferguson and BLET President Pierce give joint interview on podcast
- Transportation labor reacts to the State of the Union Address
- VA Adds TABB As Accepted Certification Body