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  • Santa Cruz & Monterey Bay Railway (SCMB)

  • Iowa Pacific Holdings and its subsidiaries had severe financial trouble and held large debts. In 2019 and 2020, many of IPH's subsidiaries were placed into receivership. Along with IPH's subsidiaries facing serious financial trouble, Iowa Pacific's two main rolling stock holding companies, Heritage Rail Leasing and San Luis & Rio Grande Railroad were forced into Chapter 11 bankruptcy and were appointed a trustee by a U.S. bankruptcy court in Denver. [27] Iowa Pacific Holdings itself filed for Chapter 7 bankruptcy in U.S. bankruptcy court in Northern Illinois in late March 2021.[28] As of 2021, Iowa Pacific Holdings former rolling stock and subsidiary railroads have been sold and auctioned off by the appointed trustees
Iowa Pacific Holdings and its subsidiaries had severe financial trouble and held large debts. In 2019 and 2020, many of IPH's subsidiaries were placed into receivership. Along with IPH's subsidiaries facing serious financial trouble, Iowa Pacific's two main rolling stock holding companies, Heritage Rail Leasing and San Luis & Rio Grande Railroad were forced into Chapter 11 bankruptcy and were appointed a trustee by a U.S. bankruptcy court in Denver. [27] Iowa Pacific Holdings itself filed for Chapter 7 bankruptcy in U.S. bankruptcy court in Northern Illinois in late March 2021.[28] As of 2021, Iowa Pacific Holdings former rolling stock and subsidiary railroads have been sold and auctioned off by the appointed trustees

Moderator: Aa3rt

 #1453461  by Jeff Smith
 
http://www.santacruzsentinel.com/articl ... /171219830" onclick="window.open(this.href);return false;
The second is the fact that Iowa Pacific is bailing out of its contract to provide transportation on the rail line, citing unprofitability.
 #1454318  by BR&P
 
Whoopie, tear out those nasty train tracks and build more hiking trails instead!

I was going to say I could never live there, but sadly it's not just California, that mentality can be found from one ocean to the other. :(
 #1471130  by Jeff Smith
 
Another IP line bites the dust: RTC on Verge of Approving Next Freight Operator
Things are touchy because Iowa Pacific, the financially strained current operator of the rail line, has made a habit of parking cars on the line indefinitely. Both men want to make sure that the blight doesn’t continue under the next partner.