Transportation Industry
Bankruptcy delays BAR sale - Small-Road Update - Brief Article
Railway Age, Jan, 2002
A consortium of Rail World, Inc., and Wheeling Corporation said last month it remained strongly interested in buying the 390-mile Bangor & Aroostook, which a Federal Bankruptcy Court placed into involuntary Chapter 11 reorganization on Dec. 4. Two months earlier, the consortium had announced an agreement to buy the debt-plagued BAR.
for $62 million. At that time it hoped to complete the transaction by Dec. 31. A more likely date now is Feb. 28.
COPYRIGHT 2002 Simmons-Boardman Publishing Corporation
COPYRIGHT 2002 Gale Group
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