[Federal Register Volume 66, Number 141 (Monday, July 23, 2001)]
[Notices]
[Page 38344]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-18183]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34062]


C & C Railroad, Inc.--Reincorporation Exemption--C&C Railroad, 
LLC

    C & C Railroad, Inc., a Class III rail carrier, and C&C Railroad, 
LLC, a noncarrier (collectively applicants), have filed a notice of 
exemption under 49 CFR 1180.2(d)(6) wherein C&C Railroad, Inc. will be 
merged with and into C&C Railroad, LLC.\1\
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    \1\ C&C Railroad, LLC is a newly formed limited liability 
company organized by the shareholders of C & C Railroad, Inc. for 
the sole purpose of reincorporating in the State of Delaware. The 
separate existence of C & C Railroad, Inc. shall cease and C&C 
Railroad, LLC shall be the surviving entity. C&C Railroad, LLC will 
continue the operations formerly provided by C & C Railroad, Inc. 
See C & C Railroad, Inc.--Operation Exemption--Centerpoint 
Properties, L.L.C., STB Finance Docket No. 33990 (STB served Jan. 
17, 2001).
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    The parties reported that they intended to consummate the 
transaction immediately following the effective date of the exemption. 
The earliest the transaction could have been consummated was July 2, 
2001, 7 days after the exemption was filed.
    Under 49 U.S.C. 10502(g), the Board may not use its exemption 
authority to relieve a rail carrier of its statutory obligation to 
protect the interests of its employees. Section 11326(c), however, does 
not provide for labor protection for transactions under sections 11324 
and 11325 that involve only Class III rail carriers. Because this 
transaction involves Class III rail carriers only, the Board, under the 
statute, may not impose labor protective conditions for this 
transaction. However, applicants have stated that they will provide 
their employees with the protections and benefits of New York Dock 
Ry.--Control--Brooklyn Eastern Dist., 360 I.C.C. 60 (1979).
    If the notice contains false or misleading information, the 
exemption is void ab initio. Petitions to revoke the exemption under 49 
U.S.C. 10502(d) may be filed at any time. The filing of a petition to 
revoke will not automatically stay the transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 34062, must be filed with the Surface Transportation 
Board, Office of the Secretary, Case Control Unit, 1925 K Street, NW., 
Washington, DC 20423-0001. In addition, a copy of each pleading must be 
served on Michael A. Abramson, Esq., 120 S. Riverside Plaza, Suite 
1200, Chicago, IL 60606.
    Board decisions and notices are available on our website at 
www.stb.dot.gov.

    Decided: July 16, 2001.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 01-18183 Filed 7-20-01; 8:45 am]
BILLING CODE 4915-00-P