In response to the Sept. 5 Associated Press article, “MMA Railway could be sold,” I believe that although it isn’t the wisest thing for the Montreal, Maine & Atlantic Railway to make any large bankruptcy loan, fuel transportation is a necessity. If the company is bought sooner than later, it is better because the loan could be paid back quicker.
But how will the MMA pay off the debt from a bankruptcy loan? It would be easy if they were paying it back in smaller amounts (if MMA is bought), but what if the company is eliminated, then replaced? What happens to the debt? Would it get dumped on the state of Maine?
Although we should do our best to compensate all of the victims with some of the money from MMA’s purchase, it is not going to help the company get out of the financial pit that it will be stuck in from the loan it is planning to make.
While selling MMA is wise, taking out any overwhelmingly large bankruptcy loan that will make its financial problem worse isn’t a wise idea for the state of Maine because of the chance the MMA would go out of business.
We need to work together and use a little bit of the state budget to help keep it running until the company is bought.
Samantha Deans
Copy the Story LinkSend questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.