rail transport holding company . for the railway museum in england see railworld . rail world inc. type private industry rail transport founded rosemont illinois founder ed burkhardt headquarters rosemont illinois united states area served canada united states poland ukraine key people edward burkhardt president & ceo subsidiaries montreal maine and atlantic railway san luis central railroad rail polska cargo central europe rail world locomotive leasing rail world ukraine website www.railworld inc.com rail world inc. is a rail transport holding company . its specialties include railway management consulting investment privatizations and restructurings . its purpose is to promote rail industry privatization by bringing together government bodies wishing to sell their stakes with investment capital and management skills . contents 1 overview 2 response to lac m gantic derailment 3 subsidiaries 4 references 5 external links overview edit rail world was incorporated in july 1999 by edward burkhardt who is the president and chief executive officer . 1 as of 2013 hundreds of miles of the company s lines have been sold turned over to government ownership or decommissioned . rail world s assets consist of a controlling interest in the bankrupt 510 miles 820 km montreal maine and atlantic railway a former canadian pacific railway line through qu bec and maine the 13 miles 21 km san luis central railroad in colorado and a minority stake in rail polska . potential liability for hundreds of millions of dollars in environmental cleanup and rebuilding costs after the lac m gantic derailment which incinerated forty seven townfolk and destroyed much of downtown lac m gantic quebec poses a risk that the company may not be able to continue as a going concern . 2 response to lac m gantic derailment edit after the derailment at lac m gantic quebec canada of a montreal maine and atlantic railway freight train on 6 july 2013 which left 47 people dead or missing president edward burkhardt visited lac m gantic on 10 july 2013 and was heckled by residents who were critical of his company s response to the incident . after the accident the railway s safety record was called into question . over the previous decade the firm recorded a higher accident rate than the rest of the us rail fleet according to data from the federal railroad administration . in the previous year the railroad had 36.1 accidents per million miles traveled in comparison to a national average of 14.6 accidents per million miles traveled . 3 on august 7 2013 the mm & a filed for bankruptcy protection in both the quebec superior court in montreal under the companies creditors arrangement act 4 and the united states bankruptcy court in bangor maine 5 under chapter 11 . 6 7 the company owes more than seven million dollars to the municipality of lac m gantic in cleanup costs the town has already paid to mm & a contractors and owes severance pay to its laid off workers ; liabilities are expected to increase as lawsuits are filed on behalf of victims of the disaster and as the long process of environmental decontamination and local rebuilding continues . 8 the mm & a s certificate of fitness was revoked by the canadian transportation agency on august 13 2013 citing inadequate liability insurance ; this effectively bans the mm & a from operating in canada . 9 10 subsidiaries edit montreal maine and atlantic railway filed for bankruptcy rail polska rail world locomotive leasing rail world ukraine a freight forwarding service san luis central railroad references edit alistair macdonald tom fowler and jesse newman july 9 2013 . runaway quebec train s owner battled safety issues . wall street journal . retrieved july 14 2013 . jacquie mcnish 2013 08 06 . the beleaguered railroader of the lac m gantic tragedy . the globe and mail . retrieved 2013 08 07 . bbc news lac megantic disaster engineer blamed for canada blast 10 july 2013 lac m gantic rail disaster company mm & a files for bankruptcy . cbc news . 2013 08 07 . retrieved 2013 08 07 . maine based railway involved in quebec crash that killed 47 files for bankruptcy . bangor daily news . 2013 08 07 . retrieved 2013 08 08 . kim mackrael 2013 08 07 . mm & a files for bankruptcy after lac m gantic rail disaster . the globe and mail . retrieved 2013 08 07 . montreal gazette montreal maine and atlantic files for bankruptcy protection august 7 . 2013 . in this report however the us bankruptcy case was filed in chicago . le syndicat des m tallos accuse la mma de voler ses employ s in french . radio canada . 2013 08 07 . retrieved 2013 08 07 . http www.citynews.ca 2013 08 13 railway in quebec tragedy has its canadian licence suspended lac m gantic rail disaster company can no longer operate in canada . cbc montr al. 2013 08 13 . retrieved 2013 08 13 . p.j. huffstutter and scott haggett july 7 2013 . train company in quebec derailment headed by chicago rail veteran . the globe and mail . retrieved july 14 2013 . external links edit official website retrieved from https en.wikipedia.org w index.php title rail world & oldid 743336887 categories companies based in chicagounited states railroad holding companies1999 establishments in illinoishidden categories cs1 french language sources fr navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutschfran aispolski edit links this page was last modified on 9 october 2016 at 04 59 . text is available under the creative commons attribution sharealike license ; 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