PORTLAND, Maine (AP) The bankrupt railroad whose runaway train sparked a fire and explosion that killed 47 people in Quebec could be sold by year's end, the company's trustee said Thursday.
Montreal, Maine & Atlantic Railway has made no secret that the railroad's sale will be necessary to repay creditors and victims following the July 6 disaster in Lac-Megantic, Quebec.
Railroad trustee Robert Keach said Thursday that he's already been approached by "several" potential buyers.
Any proceeds from the sale of the Hermon-based company would be used to repay creditors and victims, supplementing $25 million in insurance payouts available for wrongful death, personal injury, property damage, fire suppression and environmental cleanup.
Critics have said the insurance policy is inadequate and won't even cover the cleanup costs.