Judge Approves MMA Railway Sale To Fortress Affiliate
By Stephanie Russell-Kraft
Law360, New York (January 23, 2014, 5:24 PM ET) -- A Maine bankruptcy judge on Thursday approved the sale of Montreal, Maine and Atlantic Railway Ltd. to Railroad Acquisition Holdings LLC, the winning buyer following an auction of the railway company, which was involved in a deadly crash in Canada this past summer.
The affiliate of New York-based Fortress Investment Group LLC on Tuesday beat out J.D. Irving's Eastern Maine Railway Co. Ltd., which had partnered with Springfield Terminal Railway Co. Inc. to bid for the Maine portions of MMAR. Railroad will acquire both the Canadian and...