Rail World affiliate signs purchase agreement for Bangor & Aroostock Rail World, Inc.'s affiliate Montreal, Maine and Atlantic Railway signed an asset purchase agreement with James Howard, trustee of the Bangor & Aroostock Railroad Co. the agreement provides for MM&A t purchase approximately 745 miles of rail line in Maine, Quebec and New Brunswick from B&A and its affiliates. Howard intends to file the agreement with the bankruptcy court as soon as the affiliate parties have signed and to request the court's approval to complete the sale. He indicated that it would take several months for the bankruptcy court to review the sale agreement and to consider comments of the creditors and other parties of interest. B&A is currently under Chapter 11 of the U.S. bankruptcy statues, and its Canadian affiliate, Quebec Southern Railway, is under court-supervised administrative proceedings. The other B&A affiliates involved in the sale are Canadian American Railroad, Northern Vermont Railroad, Newport & Richford Railroad and Van Buren Bridge Co., all of which have filed under Chapter 11. Rail World is a Chicago-based rail management and investment company with Edward A. Burkhardt as president. Investing with Rail World are Larry R. Parsons, president of Wheeling & Lake Erie; Jerry R. Davis, retired president of Union Pacific; and Frank Turner, retiring president of the American Short Line and Regional Railroad Association.
Hi, Any word on traffic that Irving's NBSR used to send through the BAR, now goes through CN. Any chance they will send resume once plans are more finalized?
OK, help me out here- I thought BAR was owned at one time by Iron Roads (right name?). I knew the railroad was in bankruptcy court, as were several affiliated lines. So does Iron Roads still exist?
