Railway Co. In Deadly Quebec Derailment Sold To Fortress

Law360, New York (January 22, 2014, 1:02 PM EST) -- New York-based investment firm Fortress Investment Group LLC on Tuesday bought the Maine-based railway company that was forced into bankruptcy after a fiery derailment in July killed 47 people and destroyed much of the downtown area in a small Quebec town, according to one of the losing bidders.

Fortress emerged as the winning buyer for Montreal, Maine and Atlantic Railway Ltd. following an auction for the international shortline freight railroad system and its Canadian subsidiary, which have 510 miles of track in Maine, Vermont and Quebec,...
To view the full article, register now.