According to the verified notice, which states that the Line is currently operated by Wabash Central Railroad (WCR), NER and RMW have “reached terms pursuant to which NER will acquire the Line,” and states that upon closing of the railroad asset sale, “RMW will terminate the lease agreement with WCR,” and as part of the transaction, “WCR shall end its leasehold operating rights over the Line.” The verified notice, STB says, states that the notice of the proposed transaction has been provided to shippers on the Line.
According to STB, the earliest this transaction may be consummated is Nov. 10, 2023, the effective date of the exemption. If the verified notice contains false or misleading information, the exemption is void ab initio.
The filing of a petition to revoke will not automatically stay the effectiveness if the exemption, STB says. Petitions must be filed no later than Nov. 3, 2023.
