- Associated Press - Tuesday, August 5, 2014

MILO, Maine (AP) — Dozens of locomotives once owned by the company responsible for last year’s deadly oil train derailment in Quebec have been sold at auction, bringing proceeds of about $1 million for a bank.

Auctioneer Adam Jokisch (YO’-kesh) says 35 locomotives sold for anywhere from $10,000 to $15,000 to upward of $200,000 apiece on Tuesday. Most of the locomotives were owned by Montreal, Maine & Atlantic Railways, which went bankrupt after a runaway oil train exploded and killed 47 people. Seven others were affiliated with MMA’s corporate parent, Rail World Inc.

The auction will pay back part of $3.7 million owed to Maine-based Bangor Savings Bank.

The locomotives were forfeited by the company that purchased the bankrupt railroad. The Central Maine and Quebec Railway is currently proceeding with track upgrades.

Copyright © 2017 The Washington Times, LLC.

blog comments powered by Disqus


Click to Read More

Click to Hide