WASHINGTON — The STB is granting an exemption that allows Eighteen Thirty Group LLC to move forward with a plan to acquire and restore service an 8.54-mile line of railroad in Allegany County, Md.
“Eighteen Thirty is seeking to acquire the Line as a result of the bankruptcy of James Riffin through an agreement with Mark J. Friedman, Chapter 7 Trustee of the Bankruptcy Estate of James Riffin,” the STB said in a notice in the Federal Register.
The line previously was acquired from CSX Transportation Inc. (CSXT) pursuant to an STB offer of financial assistance. That would have otherwise prohibited the transfer of the Line to any entity other than CSXT until July 10, the STB said.
