Thursday, October 8th16.4°C

Transportation agency OKs Canadian operations for new owner of Montreal, Maine & Atlantic

MONTREAL - The company that took over partial control of the railway at the centre of last year's disaster in Lac-Megantic has been given the green light to operate in Canada.

The Canadian Transportation Agency granted the certificate of fitness for railway operation to Central Maine & Quebec Railway today after determining it had adequate liability coverage.

Central Maine & Quebec Railway has so far taken over the U.S. operations of Montreal, Maine and Atlantic Railway.

The sale of MMA's Canadian operations was pending upon approval of the operational fitness certificate.

A runaway Montreal, Maine and Atlantic train loaded with fuel oil careened into Lac-Megantic in the wee hours of last July 6 and jumped its tracks, exploding into a massive fireball that destroyed much of the downtown core.

Forty-seven people were killed.

The certificate will take effect when the transaction is completed.

Central Maine has been able to operate MMA's trains up to this point because the former railway's certificates are still valid.

In the wake of the tragedy, the transportation agency yanked the permission for MMA and its Canadian subsidiary to operate in Canada because it deemed it didn't have sufficient insurance.

The agency later reinstated the operating certificate to the railroad.

The Canadian Press

Read more Business News

Recent Trending

Today's Market
S&P TSX13978.66+110.31
S&P CDNX547.04+4.59
S&P 5002013.43+17.60
CDN Dollar0.7692+0.0007
Natural Gas2.484-0.014

Okanagan Companies
Pacific Safety0.23+0.01
QHR Technologies Inc1.23-0.02
Metalex Ventures0.05+0.00
Russel Metals21.55-1.57
Copper Mountain Mining0.61-0.02
Colorado Resources0.07-0.01
ReliaBrand Inc0.0166+0.0135
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.08-0.01
Decisive Dividend Corp3.11-0.10
Diamcor Mining0.94+0.06


2367894#114 1255 Raymer Avenue
2 bedrooms 2 baths
more details
Click here to feature your property
Please wait... loading

Income for life?

Photo: Thinkstock.comIn almost every conversation I have with clients these days, the topic swings to interest rates. What direction they’re going, how long will they stay where they are and how...

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...



Member of BC Press Council