BAR F3 #502

[Dick H]

With Fortress supposedly owning the 502, but not the Derby shops,
hopefully their lease of the Derby shops will allow the 502 to be
kept undercover. Will be interesting to see if Fortress actually
does anything with it in the next year or two. It can't be ruled
out that some bean counter at Fortress would put it up for sale
or scrap...Always be wary of bean counters. Most of them know
nothing about anything, but beans....

[gokeefe]

Who owns the Derby shops?

[KSmitty]

Who owns the Derby shops?

MM&A retained ownership, somehow, in the bankruptcy proceedings.
Whether this was because:
A) Fortress didn't want it, for environmental, logistic, or financial reasons.
B) Paperwork wrangling where MM&A "sold" the property to another entity (Rail World, Rail World Locomotive Leasing, San Luis Central, etc...) post derailment but pre-bankruptcy.
C) The trustee determined the property was worth more sold separately and did not include it in the sale of the railroad.
D) The shop was never owned by MM&A, but another Rail World entity (see above).

There is precedent for all of these. As much as people like to fault the MM&A management, I personally doubt B as an option. I don't think there is much advantage to Rail World to maintain ownership of a shop in the middle of no where. I also don't think A is a likely option, as it is the only place in the US where CMQR would have a fuel pad. So without Derby they would have to truck fuel to the trains. Maybe it was more money, but they basically stole the property with the less than $16M winning bid. I'd personally put my money on C, seems most likely.

[MEC407]

"D" might be a possibility. I seem to have a faint recollection of hearing something along those lines a long time ago, either on this site or on one of the Yahoo groups. Or I could just be imagining the whole thing. But it sounds familiar for some reason.

[KSmitty]

"D" might be a possibility. I seem to have a faint recollection of hearing something along those lines a long time ago, either on this site or on one of the Yahoo groups. Or I could just be imagining the whole thing. But it sounds familiar for some reason.

Actually, now that you mention that, it does sound familiar.

[baatlettroundhouseguy]

Hi, It's been quite a spell without any update, any new news on the old girl?

[conductorvern]

last I heard her and the 5017 and a ballest regulator were being stored in the paint both I rode on her a lot when I started on the bar.

[eustis22]

Anyone know what happened to BAR 502, last known in possession of the MM&A?

[MEC407]

BAR 502 saw the sunlight yesterday, trailing an LTEX GP38-3 and a pair of CMQ B23-7s.

Video by Maine Train Chaser:

https://youtu.be/iT4ypHFl4wc?t=183

[gokeefe]

Wow ... Interesting that this move happened within days of CP operational control.

Sent from my Pixel 2 XL using Tapatalk

[KSmitty]

It's one of many pieces of equipment that have left the property in the month since CP took over. They are cleaning out Derby so they can vacate and stop paying rent on that property. All the leaser power that has been stored there by CIT and LTE is also being given the boot.

[gokeefe]

Aha ... So perhaps not quite "lost and gone forever" yet ...

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[backroadrails]

AFAIK its still at Brownville Junction with the two B23-7's. Picture by Lucas Leighton https://www.flickr.com/photos/142124940 ... ateposted/

[NHV 669]

502 went west on 251 yesterday, no idea on its destination.

[GP40MC1118]

According to a friend, its in St.Luc Yard with no waybill or other info!