Ken W2KB wrote: ↑Sat Feb 29, 2020 1:42 pm
DogBert wrote: ↑Wed Feb 26, 2020 10:09 pm
Wilson did not sell it. He no longer owned it. The US Internal Revenue Service placed a federal tax lien on the railroad, likely quite some time ago, and the entire railroad and its assets was sold by the IRS in a tax sale to the present owner who is now disposing of the rail assets.
Dcell wrote: ↑Wed Feb 26, 2020 2:42 pm
Strange that Mr Wilson just walked away and abandoned all this rolling stock. Unless it is only worth scrap value. Whatever became of him?
According to that article Wilson sold the equipment. My impression is that nothing is set in stone yet on where what pieces will eventually end up.
Rudy, definitely looking forward to anything you hear about their plans for all this equipment.
Additionally, I performed a New Jersey upper court judgment search and the railroad has open liens from the State of New Jersey going back to 2009. The liens currently total close to $90,000. The railroad would not have been able to sell and grant clear title for about 10 years.
...That's not the rumor I heard. Up until recently northjersey.com focused its reporting on the developer's ownership of the land and their horse trading with the city. They didn't mention the developer also got all the equipment until last month, which from what I read over the years the developer seemed surprised to learn he was also the new owner of a bunch of rail cars he had no use for.
I was recently told by someone close to the RR that Wilson sold all the equipment (at some unknown time), but that story doesn't add up at all. My source was probably confused (as have I and others been) about who owned or sold what to whom.
If Rudy, or anyone, has a breakdown of where all this equipment will go, I suspect many are curious.
From what I've read online/heard from the rumor mill, the old GT passenger car is going to toys for tots, while the old red caboose will be staying behind and repurposed as a police substation. Also heard everything else will be dragged out of dundee yard next week and brought over to NYSW for temporary storage.
If anyone's got better detailed info, by all means share it.