NNG: Bankruptcy Court Judge Authorizes Chapter 11 Trustee for San Luis & Rio Grande Railroad, Inc. to Auction 100% of Membership Interest in Its Wholly-Owned Subsidiary Massachusetts Coastal Railroad, LLC

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CHICAGO--(BUSINESS WIRE)--NOTICE IS HEREBY GIVEN that William A. Brandt, Jr. of Development Specialists, Inc. (“DSI”), as chapter 11 Trustee of San Luis & Rio Grande Railroad, Inc. (“SLRG”) is selling SLRG’s 100% Membership Interest in its wholly-owned subsidiary Massachusetts Coastal Railroad, LLC (“Mass Coastal”), a 99-mile short-line railroad operating on and near Cape Cod, Massachusetts, which currently provides freight rail services primarily for various industrial commodities and the haulage of municipal waste.

The Membership Interest will be sold free and clear of all liens, claims, rights, interests, and encumbrances whatsoever. Mass Coastal’s assets and liabilities shall remain unaffected by the sale of the Membership Interest, as the successful bidder is essentially buying the stock of Mass Coastal.

The Trustee anticipates selling the Membership Interest in Mass Coastal pending approval of Bidding Procedures filed in the chapter 11 bankruptcy of San Luis & Rio Grande Railroad, Inc., United States Bankruptcy Court District of Colorado as case number 19-18905-TBM.