Arab Today, arab today rail firm files for bankruptcy after canada disaster
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

Rail firm files for bankruptcy after Canada disaster

Arab Today, arab today

Arab Today, arab today Rail firm files for bankruptcy after Canada disaster

Montreal - AFP

he owners of a train that derailed in Canada last month leaving dozens dead has filed for bankruptcy, the company said. Montreal, Maine & Atlantic said it was seeking bankruptcy as a direct result of the July 6 accident in the Quebec town of Lac-Megantic which killed 47 people. Montreal, Maine & Atlantic Railway, Ltd. has filed for Chapter 11 protection in US Bankruptcy Court for the District of Maine, a statement said. Its sister company, Montreal, Maine & Atlantic Canada Co., meanwhile, filed a petition with the Superior Court of Quebec in Montreal. \"It has become apparent that the obligations of both companies now exceed the value of their assets, including prospective insurance recoveries, as a direct result of the tragic derailment at Lac Megantic,\" said Edward Burkhardt, chairman of the board of both companies. The train was carrying crude oil from the Bakken shale fields of North Dakota in 72 tanker cars near the Canada-US border to an Irving Oil refinery in New Brunswick. The accident was Canada\'s worst in 15 years. Quebec authorities have already addressed two formal notices to MMA to force it to pay for the cleanup and decontamination of the affected area devastated by a blast that lasted almost two days. \"MMA wishes to continue to work with the Quebec Ministry of the Environment, the municipality of Lac Megantic, and other government authorities in the continuing environmental remediation and clean-up as long as is necessary, and will do everything within its capacity to achieve completion of such goal,\" Burkhardt said. He has said the disaster appeared to have been caused by an engineer\'s failure to properly set hand brakes on the runaway train.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rail firm files for bankruptcy after canada disaster Arab Today, arab today rail firm files for bankruptcy after canada disaster

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rail firm files for bankruptcy after canada disaster Arab Today, arab today rail firm files for bankruptcy after canada disaster

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday