Possible conflict of interest in MMA bankruptcy proceedings
(Source: Bangor Daily News, October 14, 2013)
BANGOR, Maine — In what some experts say could be a conflict of interest, the CEO of the Montreal, Maine and Atlantic Railway’s parent company also sits on the board of directors of the railway’s second-largest creditor, which on Tuesday sued to ensure it is first to be paid from MMA’s ongoing bankruptcy proceedings.
Ed Burkhardt, CEO of MMA’s parent company, Rail World Inc., is on the board of the Wheeling and Lake Erie Railway, which is MMA’s second-largest creditor with a $6 million outstanding loan.
Full story: Bangor Daily News
Monday, October 14, 2013
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