[Federal Register Volume 74, Number 246 (Thursday, December 24, 2009)]
[Notices]
[Page 68444]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-30602]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 35335]


Freedom Rail Management, LLC--Acquisition of Control Exemption--
Columbia & Reading Railway Co.

    Freedom Rail Management, LLC (FRM), a noncarrier, has filed a 
verified notice of exemption to acquire control of Columbia & Reading 
Railway Co. (CORY), a class III rail carrier. Pursuant to a Membership 
Interest Purchase Agreement between FRM and Railway Management, Inc. 
(RMI),\1\ FRM seeks to purchase a 51 percent membership interest in 
CORY.\2\ FRM currently controls Claremont Concord Railroad (CCRR), a 
Class III rail carrier. CCRR owns 2 miles of rail line in Claremont, 
NH, and leases 2 miles of rail line in Lebanon, NH, from the New 
Hampshire Department of Transportation.
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    \1\ RMI is a noncarrier that currently holds a 100% ownership 
interest in CORY.
    \2\ CORY owns 2.5 miles of rail line in Lancaster County, PA.
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    The transaction is expected to be consummated on or after January 
10, 2010, the effective date of the exemption.
    FRM states that: (i) The railroads will not connect with each 
other; (ii) the acquisition of control is not part of a series of 
anticipated transactions that would connect the railroads with each 
other; and (iii) the transaction does not involve a Class I carrier. 
Therefore, the transaction is exempt from the prior approval 
requirements of 49 U.S.C. 11323. See 49 CFR 1180.2(d)(2).
    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.
    If the verified 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. 35335 must be filed with the Surface Transportation Board, 
395 E Street, SW., Washington, DC 20423-0001. In addition, a copy of 
each pleading must be served on Jeffrey O. Moreno, 1920 N Street, NW., 
Suite 800, Washington, DC 20036.
    Board decisions and notices are available on our Web site at http://www.stb.dot.gov.

    Decided: December 18, 2009.

    By the Board, Rachel D. Campbell, Director, Office of 
Proceedings.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. E9-30602 Filed 12-23-09; 8:45 am]
BILLING CODE 4915-01-P