Re: Abandonment process and other issues
Author: Shortline Sammiee
Date: 04-10-2013 - 19:38
A carrier cannot file for abandonment until 2 years have elapsed after the last revenue carload has been delivered/received from the connecting carrier.. I'm sure that time has passed and the abandonment qualifies under that scenario.
An existing shipper in danger of losing rail service can petition the STB with an offer of financial assistance and agree to operate as a common carrier for two years. The remaining shipper could make such an offer and Hammond would have to sell the assets to the new operator at NLV (net liquidation value,:ie; the value of the track material less the cost to remove). The new owner then could operate the railroad (all he needs is ONE team track customer) for two years, hope the scrap
market stays stable and scrap the line more than two years down the road.
Dick Samuels
Oregon Pacific Railroad Co.