Hudson Bay Railway comments on Canadian Transportation Agency decision
WINNIPEG, June 18, 2018 /CNW/ - Hudson Bay Railway (HBR) today provided the following response to the June 13, 2018 decision by the Canadian Transportation Agency (CTA):
Sergio Sabatini, President of Hudson Bay Railway, said, "We understand that the HBR is a vital link for the people of Churchill and that repairs to the line need to begin. We have initiated a request for proposals to contractors and other relevant trades."
"However, as we have said previously, due to the catastrophic damage to the railroad, HBR cannot afford to repair the damage to the line. That is why we believe that an expeditious transfer of ownership of the line is best for all concerned. To this end, we are continuing to work closely with the team from Fairfax Financial to conclude the sale of the HBR and begin repairs to the line as soon as possible, and we remain hopeful that can happen soon."
Hudson Bay Railway also confirmed that it intends to appeal the CTA decision. To the extent the CTA decision is not overturned or the sale of the line is not completed in time, the company is prepared to start the repairs. Hudson Bay Railway will provide further updates as the appellate process and the sale of the line and related assets as events warrant.
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