Posted inMaine, sj-web

New owner, new name: MMA to become the Central Maine and Quebec Railway

HERMON — Once the sale of the bankrupt Montreal, Maine and Atlantic Railway is complete, that name will be filed away in the history books. Railroad Acquisition Holdings, the affiliate of New York-based investment firm Fortress Investment Group that is in the process of buying Montreal, Maine and Atlantic Railway out of bankruptcy, will change […]

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Posted inBusiness, Maine, sj-web

Wrongful death claimants in Lac-Megantic disaster want George Mitchell to oversee allocation of railroad’s funds

BANGOR — A Chicago law firm on Wednesday filed a proposal that would appoint former U.S. Sen. George J. Mitchell to oversee the allocation of available funds in the Montreal, Maine and Atlantic Railway’s bankruptcy case to the victims who have filed wrongful death and personal injury claims. The firm Meyers & Flowers filed the […]

Posted inBusiness, Maine, sj-web

‘Multiple bids’ made in auction for Montreal, Maine and Atlantic Railway assets

BANGOR — Multiple parties have made initial bids for the assets of the bankrupt Montreal, Maine and Atlantic Railway ahead of next week’s auction. The deadline for bids on the railroad’s assets was the end of the day Friday. Robert Keach, the railroad company’s trustee in its bankruptcy proceedings, told the Bangor Daily News after […]