PORTLAND, Maine (AP) — The deadline has arrived for interested parties to bid on the bankrupt, Maine-based railroad responsible for a disaster that killed 47 people in Canada.
If bids are submitted by Friday’s deadline, then there will be a closed-door auction next week for the Montreal, Maine and Atlantic Railways.
Details will be scarce, however. Trustee Robert Keach doesn’t plan to release any details Friday.
The minimum bid is $15.7 million, which reflects an initial “stalking horse” bid by Railroad Acquisition Holdings LLC.
MM&A filed for bankruptcy after the July derailment in Lac Megantic, Quebec, which was caused after a train with 72 oil tankers began rolling after being left unattended.