SURFACE TRANSPORTATION BOARD DECISION DOCUMENT
    Decision Information

Docket Number:  
FD_35363_0

Case Title:  
R. J. CORMAN RAILROAD PROPERTY, LLC—ACQUISITION EXEMPTION—NC RAILROAD, INC.

Decision Type:  
Notice Of Exemption

Deciding Body:  
Director Of Proceedings

    Decision Summary

Decision Notes:  
PROVIDED NOTICE THAT R.J. CORMAN RAILROAD PROPERTY, LLC FILED A NOTICE OF EXEMPTION TO ACQUIRE BY PURCHASE FROM NC RAILROAD, INC. APPROXIMATELY 42 ROUTE MILES OF RAIL LINE IN SCOTT, CAMPBELL, AND ANDERSON COUNTIES, TN.

    Decision Attachments

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    Full Text of Decision

ID#

40712                                   SERVICE DATE – APRIL 9, 2010

 

DO

 

FR-4915-01-P

 

DEPARTMENT OF TRANSPORTATION

 

Surface Transportation Board

 

[STB Finance Docket No. 35363]

 

R. J. Corman Railroad Property, LLC—Acquisition Exemption—NC Railroad, Inc.

 

            R. J. Corman Railroad Property, LLC (RJC Railroad Property), a Class III rail carrier, has filed a verified notice of exemption under 49 CFR 1150.41 to acquire by purchase from NC Railroad, Inc. (NCRL), approximately 42 route miles of rail line extending from milepost 0.144 at or near Oneida to milepost 42.0 at or near Devonia, in Scott, Campbell, and Anderson Counties, TN.

            This transaction is related to the concurrently filed notice of exemption in STB Finance Docket No. 35364, R. J. Corman Railroad Company/Bardstown Line—Lease and Operation Exemption—R. J. Corman Railroad Property, LLC, wherein R. J. Corman Railroad Company/Bardstown Line (RJC Railroad Company) seeks to lease from RJC Railroad Property and to operate the line that RJC Railroad Property is purchasing from NCRL.

            Based on projected revenues for the line, RJC Railroad Property expects to remain a Class III rail carrier after consummation of the proposed transaction.  RJC Railroad Property certifies that its projected revenues as a result of this transaction will not result in the creation of a Class II or Class I rail carrier.  In addition, RJC Railroad Property provides that its projected annual revenues will not exceed $5 million.

RJC Railroad Property states that it intends to consummate the transaction on or before April 26, 2010, and that RJC Railroad Company will commence operations on behalf of RJC Railroad Property on or about the same day.  The earliest this transaction may be consummated is April 25, 2010, the effective date of the exemption (30 days after the exemption was filed). 

            If the verified notice contains false or misleading information, the exemption is void ab initio.  Petitions to revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time.  The filing of a petition to revoke will not automatically stay the transaction.   Petitions for stay must be filed no later than April 16, 2010 (at least 7 days before the exemption becomes effective).

            An original and 10 copies of all pleadings, referring to STB Finance Docket No. 35363, must be filed with the Surface Transportation Board, 395 E Street, S.W., Washington, DC  20423-0001.  In addition, one copy of each pleading must be served on David R. Irvin and Elizabeth E. Darby, Moynahan, Irvin, Mooney & Stansbury, PSC, 110 North Main Street, Nicholasville, KY  40356.

            Board decisions and notices are available on our website at “WWW.STB.DOT.GOV.”

            Decided:  April 2, 2010. 

            By the Board, Rachel D. Campbell, Director, Office of Proceedings.