History Central Maine and Quebec Railway

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locomotive


the montreal, maine , atlantic railway (reporting mark mma), product of 2002 iron road railways bankruptcy, declared bankruptcy in united states , canada on august 7, 2013, following fiery lac-mégantic derailment, in runaway crude oil train killed forty-seven people , caused estimated $200 million in property damage downtown lac-mégantic, quebec. company received protection under chapter 11 of united states bankruptcy code , under companies creditors arrangement act in canada oversee sale of assets.


in december 2013, fortress investment group, llc, through subsidiary railroad acquisition holdings, llc (rah) placed stalking horse bid on operating rail lines, accepted bankruptcy trustee in january 2014. in february 2014 rah announced had formed cmq become operating entity of rail lines , sale concluded in march 2014. cm&q received certificate of fitness canadian transportation agency on june 24, 2014.


in march 2014, john e. giles of rah drove length of line, visiting communities , industries served railway , inspecting condition of tracks , installations. estimated $10–20 million investment needed on 3 years repair rail line, in poor condition , not safe transport of oil or dangerous goods.


in august 2015, 15 empty boxcars of cmqr freight train derailed @ siding in farnham, quebec.


the company planned resume transport of crude oil rail in january 2016.








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