Re: FRA Emergency Order #21
Author: Hipshot
Date: 10-24-2009 - 14:01
Some part of that backpay was paid in 2001 as result of NCRA using the TCRP funds to settle its past debts. Part of that money did go to pay RailWays' back wages, but I don't know if all or only part of the wages were paid. As I recall it, all NCRA vendors and contractors had to take a haircut. Then, to make matters worse, before RailWays could disburse all its funds, somebody went to court and got an attachment that froze all RailWays' remaining money, which then forced it into bankruptcy. Ultimately, all remaining money went to the IRS and the lawyers.