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| Bankruptcy Trustee to Auction San Luis & Rio Grande Railroad https://www.rypn.org/forums/viewtopic.php?f=1&t=46658 |
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| Author: | Chris Webster [ Tue Jun 14, 2022 4:41 pm ] |
| Post subject: | Bankruptcy Trustee to Auction San Luis & Rio Grande Railroad |
A June 14, 2022 article on GlobalNewsWire dot com: Global News Wire wrote: Alamosa, CO, June 14, 2022 (GLOBE NEWSWIRE) -- William A. Brandt Jr., the Chapter 11 Trustee for the currently operating San Luis & Rio Grande Railroad Inc., has announced his intention, subject to U.S. Bankruptcy Court approval, to sell substantially all of the assets of the railroad through an auction process. Interested parties will be required to submit a bid by July 10, 2022, at 4:00 p.m. Mountain Time. The proposed auction will be in accordance with terms and bid procedures outlined in the Motion Approving Bidding Procedures recently filed by the Chapter 11 Trustee, which is currently pending before the U.S. Bankruptcy Court for the District of Colorado, Case No. 19-18905-TBM. Link: Bankruptcy Trustee to Auction a 155-mile Short-line Freight Railroad in Colorado’s San Luis Valley
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| Author: | PMC [ Mon Sep 19, 2022 3:34 pm ] |
| Post subject: | Re: Bankruptcy Trustee to Auction San Luis & Rio Grande Rail |
https://www.trains.com/trn/news-reviews ... stee-says/ Looks like it will survive, after back taxes are paid the purchase price is only $1.75M. But I wonder if OmniTrax (it operates the old Great Western Ry. around Loveland CO, among others) will push to get all the stored passenger equipment out. |
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| Author: | Chris Webster [ Thu Oct 13, 2022 9:24 am ] |
| Post subject: | Re: Bankruptcy Trustee to Auction San Luis & Rio Grande Rail |
This October 12, 2022 article in the Colorado Sun says Omnitrax is now under contract to purchase the San Luis & Rio Grande Railroad following the bankruptcy auction: Denver’s Omnitrax buys San Luis & Rio Grande Railroad, driving hope for economic spark in Colorado’s San Luis Valley |
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| Author: | PMC [ Sat Nov 19, 2022 5:43 pm ] |
| Post subject: | Re: Bankruptcy Trustee to Auction San Luis & Rio Grande Rail |
"In late bidding that trustee William Brandt described as “spirited” to a local newspaper, a short line owned by a Colorado billionaire has won the bankruptcy auction for the San Luis & Rio Grande Railroad." https://www.trains.com/trn/news-reviews ... io-grande/ Likely a good thing, as Omnitrax seemed more interested in the associated real estate than in operating the line. |
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| Author: | NJDixon [ Sun Nov 20, 2022 11:18 am ] |
| Post subject: | Re: Bankruptcy Trustee to Auction San Luis & Rio Grande Rail |
Worth noting that the guy who is supposedly buying the SLRG is also the same guy who was trying to force UP to sell him Tennessee Pass. |
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| Author: | PMC [ Sun Nov 20, 2022 5:23 pm ] |
| Post subject: | Re: Bankruptcy Trustee to Auction San Luis & Rio Grande Rail |
NJDixon wrote: Worth noting that the guy who is supposedly buying the SLRG is also the same guy who was trying to force UP to sell him Tennessee Pass. He also owns the "Towner Line", the former Missouri Pacific east of Pueblo, which he had to wrest away from A&K Materials. He apparently has $7 billion (with a B) in assets, so I doubt that this transaction will cause him much bother. |
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