[Federal Register Volume 68, Number 12 (Friday, January 17, 2003)]
[Notices]
[Pages 2632-2633]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-1148]


-----------------------------------------------------------------------

DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34294]


State of Vermont--Acquisition Exemption--Certain Assets of 
Newport and Richford Railroad Company, Northern Vermont Railroad 
Company Incorporated and Canadian American Railroad Company

    The State of Vermont (Vermont) has filed a verified notice of 
exemption under 49 CFR 1150.41 to acquire from the Estates of Newport 
and Richford Railroad Company, Northern Vermont Railroad Company 
Incorporated and Canadian American Railroad Company (collectively, the 
Sellers),\1\ the Sellers' rights, title and ownership interest in the 
right-of-way, trackage and other physical assets of a 61.58-mile rail 
line, extending between milepost 63.58 in Newbury (Wells River) and 
milepost 2.0 in Newport, in Orange, Caledonia and Orleans Counties, VT 
(the Subject Line).\2\ The Sellers will retain the rights and 
obligations to provide common carrier service on the line. In a 
separate transaction, the Sellers will convey the retained common 
carrier obligation and right to provide service to the Washington 
County Railroad Company (WCRC) through an exclusive operating 
easement.\3\
---------------------------------------------------------------------------

    \1\ The Sellers are railroads in the Bangor and Aroostook 
Railroad Company (BAR) rail system. On August 15, 2001, an 
involuntary petition for bankruptcy under chapter 11 of the 
Bankruptcy Act was filed against BAR before the United States 
Bankruptcy Court for the District of Maine (Court). On May 14, 2002, 
the Sellers, filed voluntary petitions for relief under chapter 11 
before the Court.
    \2\ Vermont simultaneously filed a motion to dismiss this notice 
of exemption. The motion will be handled in a separate decision.
    \3\ WCRC has contemporaneously filed a notice of exemption in 
Washington County Railroad Company--Acquisition and Operation--
Certain Rights of Newport and Richford Railroad Company, Northern 
Vermont Railroad Company Incorporated and Canadian American Railroad 
Company, STB Finance Docket No. 34302, to acquire an exclusive 
operating easement on the Subject Line.
---------------------------------------------------------------------------

    Consummation of the transaction was expected to occur on December 
26, 2002 (7 days after the exemption was filed), but not before 
Montreal, Maine & Atlantic Railway, Ltd. has consummated its 
acquisition of certain other rail assets belonging to the BAR rail 
system in Vermont and Maine.\4\
---------------------------------------------------------------------------

    \4\ In Montreal, Maine & Atlantic Railway LLC--Acquisition and 
Operation Exemption--Bangor & Aroostook Railroad Company, Canadian 
American Railroad Company, the Northern Vermont Railroad Company 
Incorporated, Newport & Richford Railroad Company and Van Buren 
Bridge Company, STB Finance Docket No. 34110 (STB served Sept. 19, 
2002), Montreal, Maine & Atlantic Railway, LLC (MM&A--LLC) was 
authorized to acquire and operate, among other things, some 518 
miles of BAR's rail lines and other assets in Maine and Vermont. 
These assets do not include the Subject Line. In a subsequent 
decision served on December 18, 2002, the Board granted a motion to 
substitute Montreal, Maine & Atlantic Railway, Ltd. as the party 
that may acquire and operate these assets in lieu of MM&A--LLC.
---------------------------------------------------------------------------

    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. 34294, must be filed with the Surface Transportation 
Board, 1925 K Street, NW., Washington, DC 20423-0001. In addition, a 
copy of each pleading must be served on Edward J. Fishman, Kirkpatrick 
& Lockhart LLP, 1800 Massachusetts Ave., NW., Washington, DC 20036-
1221.
    Board decisions and notices are available on our website at http://www.stb.dot.gov.

    Decided: January 13, 2003.


[[Page 2633]]


    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 03-1148 Filed 1-16-03; 8:45 am]
BILLING CODE 4915-00-P