In what some experts say could be a conflict of interest, the CEO of the Montreal, Maine and Atlantic Railway’s parent company also sits on the board of directors of the railway’s second-largest creditor, which on Tuesday sued to ensure it is first to be paid from MMA’s ongoing bankruptcy proceedings. Ed Burkhardt, CEO of […]
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Posted inBusiness, Maine, sj-web
U.S. Bankruptcy Court asked to handle compensation for victims of Montreal, Maine and Atlantic Railway train disaster
BANGOR — A federal bankruptcy judge could decide how much compensation families of the victims killed by the train crash in Lac-Megantic, Quebec, receive. A motion filed last month in the Montreal, Maine and Atlantic Railway’s bankruptcy petition asked U.S. Bankruptcy Judge Louis Kornrich to appoint a committee to represent wrongful death and personal injury […]
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In the wake of bankruptcy, keeping Maine’s rail network intact ‘strategically critical’
Speculation is growing over what the long-term economic impacts will be to the bankruptcy of Montreal, Maine and Atlantic Railway. Experts interviewed by the Bangor Daily News, however, say businesses served by the railroad shouldn’t experience any immediate impacts as a result of the company’s bankruptcy. The railway filed for Chapter 11 bankruptcy on Wednesday, […]