Owner of derailed train in Canada files for bankruptcy

The owner of a train that derailed in Canada last month killing 47 people has filed for bankruptcy.

Owner of derailed train in Canada files for bankruptcy

The owner of a train that derailed in Canada last month killing 47 people has filed for bankruptcy.

Montreal, Maine & Atlantic said the move was a direct result of the July 6 accident in the Quebec town of Lac-Megantic.

The train was carrying crude oil in 72 tanker cars when it de-railed at high speed and exploded.

The company filed papers with a court in Montreal stating that their financial obligations as a result of the disaster now exceed the value of their assets.

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