• Boston Surface Railroad: Worcester-Providence Commuter Rail

  • Pertaining to all railroading subjects, past and present, in New England
Pertaining to all railroading subjects, past and present, in New England

Moderators: MEC407, NHN503

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  by MaineCoonCat
 
buono rep.PNG
help me.jpg
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  by MaineCoonCat
 
Well, it appears their site is back "on the air" albeit with an expired security certificate..
  by MaineCoonCat
 
May Debtor In Possession report. PDF format.. Not looking good.. I'd have posted this as images but it's 15 pages. Enjoy!
BSRC debtor in possession report May 2011616157848.pdf
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  by Jeff Smith
 
Interesting. They list zero liabilities, and their income is from storage? I don't see anything on the books for the FL-9, or the bus, or the station lease.
  by BandA
 
Seems to be profitable :wink: BVTC is probably Blackstone Valley Tourism Council. Are they paying BSRR storage fees for space in the Woonsocket train station? 0 employees means anybody working for them must be 1099 contractors. What is the insurance, annual rate for the train station?
  by MaineCoonCat
 
Re: the FL-9, or the bus, or the station lease., could this have something to do with it?

Image
  by BandA
 
That's the confusing bit; If they have borrowed money or paid on behalf of the company then it should appear as a liability, but it doesn't. Certainly navigating bankruptcy, even filing this document would require a lawyer which costs money. Perhaps money has been paid out but they haven't been invoiced so they don't know how much. And it's all to keep control over Woonsocket train station office space? Maybe they've spent money but don't expect to get it back so they aren't bothering to claim any. It's all very fascinating.
  by Ridgefielder
 
Given how half-a**ed everything else about this outfit has turned out to be I wouldn't be surprised if they're trying to navigate bankruptcy by themselves with the aid of LegalZoom or some such thing. Would certainly be in character.
Last edited by MEC407 on Thu Aug 06, 2020 11:33 am, edited 1 time in total. Reason: unnecessary quoting
  by MaineCoonCat
 
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  by BandA
 
It's not like he's used public money or prevented the MBTA, WRTA, RIDOT, NHDOT, P&W or PanAm from running passenger service. Not sure why the level of vitriol is so high.
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