
Canadian National
CN: Disappointed in Appeal Court Ruling Sanctioning CTA Grain Rate Reduction
MONTREAL — CN in November expressed disappointment in a Federal Court of Appeal of Canada ruling that lets stand a Canadian Transportation Agency (CTA) decision issued earlier this year to reduce rail revenue entitlement for grain transportation retroactively under the Canada Transportation Act. The CTA in February 2008 cut grain rates by eight per cent under railway revenue caps retroactive to Aug. 1, 2007, to reflect its determination of actual railway maintenance expenditures for government-owned grain hopper cars. CN appealed the CTA decision, saying it was flawed and that its retroactive application was illegal. CN estimates the CTA decision will