BANGOR (AP) — Lawyers in Maine and Canada are hoping to iron out some key details in the bankruptcy of a railroad whose train derailed in Quebec, killing 47 people.
A bankruptcy hearing Wednesday aims to establish bidding procedures for the Montreal, Maine and Atlantic Railway and to set a deadline for people to file claims against the railroad. A third motion would expedite the process, which company trustee Bob Keach hopes to complete by next month.
There’s already a “stalking horse” bid of $14.25 million from Railroad Acquisition Holdings LLC. But there are more than a dozen interested buyers and there could be additional bids.
An unmanned Montreal, Maine and Atlantic Railway train with 72 oil tankers exploded in July in Lac-Megantic, Quebec. The railroad is based in Hermon.
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