Montreal, Maine & Atlantic Railway, Ltd., and Montreal, Maine & Atlantic Canada Co., acquired the assets formerly belonging to the Quebec Southern Railway, the Canadian American Railroad Company, the Van Buren Bridge Company and Canadian Pacific Railway running from Montreal to Saint John, N.B. through the state of Maine, for US$50 million. The deal closed on January 9, 2003. The railway also has lines from Saint-Hyacinthe south into Vermont and other lines in Maine where it acquired the railway assets of the former Bangor and Aroostook Railroad Company in the U.S.
Gowling Lafleur Henderson LLP acted for the newly-incorporated Montreal, Maine & Atlantic Railway, and Montreal, Maine & Atlantic Canada, with a team led by John Penhale in Montreal, Henry Brown in Ottawa and Jamie Spence in Toronto. The corporate and securities work was led by John Penhale, with assistance from Pierre-André Hamel and Carine Dumont. The many bankruptcy and insolvency issues arising from Canadian and American trustees were handled by Elyse Rosen, in Montreal. The regulatory and securities work in Ottawa under the Investment Canada Act, the Canada Transportation Act and the Railway Safety Act together with the federal railway filings and opinions were prepared by Henry Brown, with assistance from Cara McNulty, and Bill Vanveen advised in connection with the Competition Act, all of Gowling Lafleur Henderson.
G.F. Kandestin of Kugler, Kandestin represented the Canadian trustee in bankruptcy. Jean Clerk, Q.C., of Heenan Blaikie LLP represented the Canadian American Railroad Company and the Van Buren Bridge Company. Canadian Pacific Railway was represented by François Brissette and Ann Drost of Fasken Martineau DuMoulin LLP. Quebec Southern Railway, the Canadian American Railroad Company, the Van Buren Bridge Company and CP Rail were represented by Henry Brown of Gowling Lafleur Henderson.
