M,M&A sale imminent
Court documents indicate a sale of the insolvent railway involved in last July's deadly explosion in Lac-Megantic, Quebec, could happen as early as mid-December.
The filings say a formal process to award compensation to victims and other claimants must be established for the sale to go ahead.
The documents say the U-S trustee overseeing the railway's bankruptcy proceedings has been contacted by eight potential buyers interested in the Montreal, Maine and Atlantic Railway.
Seven of those have signed non-disclosure agreements to receive confidential data.
The Canadian monitor -- Richter Advisory Group -- has been in contact with at least two possible bidders in Canada.
Any sale of M-M-A would have to be approved by both the Quebec and U-S bankruptcy courts.
Forty-seven people were killedand the centre of the picturesque Quebec town was destroyed when a runaway M-M-A train derailed and exploded on July 6th.