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. The Fortress subsidiary had submitted a bid of $14.25 […]
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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 […]
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Montreal, Maine and Atlantic Railway may be sold to investment firm
The trustee for the bankrupt Montreal, Maine and Atlantic Railway has signed a sales agreement for the railroad’s assets with a company that appears to be affiliated with a global investment firm based in New York City. In documents filed with the court on Thursday, Robert Keach, MMA’s trustee, asked the court for permission to […]
Posted inLocal Sports
Mixed Martial Arts: NEF announces Bangor-based grudge match to headline Lewiston card
LEWISTON — The next New England Fights main event is a story line straight out of fistic action movies. It will be the resourceful veteran and teacher, Marcus Davis, against the prodigal student, Ryan Sanders, in the mixed martial arts showdown Feb. 8 at Androscoggin Bank Colisee. UFC veteran Davis (22-10) against Sanders (5-4) is […]
Posted inLocal Sports
Mixed Martial Arts: Hinkley lands lone local win at NEF XI
Remnants of blood played peek-a-boo from a sizable welt above his right eye. And the Lewiston fighter was your winner Saturday night at Androscoggin Bank Colisee, by unanimous decision over Nate Charles of Windham. It was the only amateur mixed martial arts fight of 10 to go the distance before a crowd of more than […]
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Mixed Martial Arts: Prior cancellations spice up NEF XI
LEWISTON — New England Fights’ 10th anniversary card at Androscoggin Bank Colisee admittedly lost some of its luster between the weigh-in and the opening bell. September’s loss is November’s gain. On the heels of bitter disappointment when their opponents failed to meet commitments seven weeks ago, John Ortolani and Jesse Erickson will use those unwanted […]
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Montreal, Maine and Atlantic Railway rehiring workers thanks to $3 million loan
HERMON — Thanks to a recent $3 million loan, workers are being rehired by the bankrupt railway that owned the runaway train that devastated a Canadian town, killing 47 people, the railway’s court-appointed trustee said Monday. Montreal, Maine and Atlantic Railway secured a $3 million loan from Camden National Bank to allow it to keep […]
Posted inBusiness, Maine, sj-web
CEO of Rail World — Montreal, Maine and Atlantic parent — sits on board of company suing railway in bankruptcy
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 […]
Posted inMaine, sj-web
Bankruptcy judge approves $3 million loan for Montreal, Maine and Atlantic Railway
BANGOR — A U.S. Bankruptcy Court judge Wednesday approved a $3 million loan from Camden National Bank that will allow the Montreal, Maine and Atlantic Railway to continue operating. The loan is structured as a revolving line of credit up to $3 million and may be used only as working capital, according to court documents. […]
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Mixed Martial Arts: Coolidge, Hinkley find peace in cage
LEWISTON — There is a T-shirt slogan popular within the mixed martial arts fraternity: “Every day I fight.” Auburn’s Matt Coolidge understood the multiple meanings and ramifications of that catch phrase long before he ever dreamed of walking up the steps into the cage. Struggling with his weight, employment, failed relationships and fatherhood — “my […]