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 operations through the bankruptcy and sale process into 2014 and staff its trains with two-man crews, said attorney Robert Keach, whom a U.S. District Court judge appointed to oversee MMA operations during the Canadian and U.S. court proceedings.
The loan, which closed Friday, allows the railway to operate in Canada until Feb. 1, bolsters its potential sale price, and helps the railway’s 18 potential buyers get a better look at what one of them might get, Keach said in a statement.
This Bangor Daily News article features Bernstein Shur attorney Robert Keach.
Please see full article below for more information.
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