The trustee for the bankrupt Montreal, Maine and Atlantic Railway said that he expects a final agreement on Oct. 5 over a settlement to pay victims of the July 2013 oil train derailment that killed 48 people in Lac-Megantic, Quebec, Bangor Daily News reported yesterday. Former ABI President Bob Keach, the trustee for the railroad, and attorneys for Canadian Pacific Railway reached a deal during a hearing that would tweak language in the chapter 11 plan. In return, Canadian Pacific would remove its objections and its rights to appeal the bankruptcy plan. “This is about getting people paid,” Keach said, adding that removing the possibility of an appeal would make certain that settlement fund would not be tied up further in court battles.
