Bankruptcy lawyers who are turning over Montreal, Maine & Atlantic Railway Ltd .'s operations to its new owner are running out of money. In a loan request filed to U.S. Bankruptcy Court in Bangor, Maine, lawyers in charge of the railway asked a bankruptcy judge for permission to borrow $1.8 million so the company — which filed for bankruptcy after a deadly train derailment July 6 in Quebec — can keep operating until its sale closes, Dow Jones Daily Bankruptcy Review reported today. In January, an affiliate of Fortress Investment Group won a bankruptcy auction with a $15.85 million offer for the railway, which operates more than 500 miles of track in Maine, Vermont and Quebec. Before the accident, the railroad company employed 179 people and operated about 15 trains daily with a fleet of 26 locomotives, according to court papers.
