Bloomberg: Gordian Hired to Sell Montreal, Maine & Atlantic Railway

MMAR logoMontreal, Maine & Atlantic Railway Ltd., whose runaway oil train exploded and killed 47 people in Quebec in July, hired investment bank Gordian Group LLC to sell the carrier, which could occur by the end of the year.

The Canadian monitor and Chapter 11 trustee set Oct. 31 as the deadline for interest from potential bidders, according to documents filed today in bankruptcy court in Bangor, Maine. A stalking horse bidder will be selected by Nov. 15 and an auction will occur on Dec. 13, followed by court approval for the winning bid three days later, according to the filings.

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