The Montreal, Maine and Atlantic Railway was a Class II freight railroad that operated in the U.S. states of Maine and Vermont and the Canadian province of Quebec between 2002 and 2014. It was headquartered in Hermon, Maine. Its Canadian subsidiary was named the Montreal, Maine and Atlantic Canada Company with offices in Farnham, Quebec. With the exception of an independently owned low-speed tourist train (the Orford Express) on one small segment between Magog and Sherbrooke, there was no passenger service on the MMA system. MMA and its Canadian subsidiary entered Chapter 11/CCAA bankruptcy protection in August 2013 as a direct result of the Lac-Mégantic rail disaster, a runaway train incident in July 2013 which resulted in an estimated $200 million in damage and the deaths of 47 people. MMA's assets were sold at auction to Railroad Acquisition Holdings, LLC, a subsidiary of Fortress Investment Group, LLC on January 21, 2014. Fifteen locomotives worth $1.6 million were excluded from the deal and will be sold separately. The sale was approved by bankruptcy judges on January 23, with the transfer of assets expected to occur on or before March 31, 2014. Railroad Acquisition Holdings, LLC has established a new railroad named Central Maine and Quebec Railway to operate the former MMA rail lines. The CM&Q was acquired by Canadian Pacific Railway in June 2020. History 2003 Assets acquired MMA was formed in October 2002. The railway was 72.8% owned by Rail World ($54.7 million) and 12.8% by Caisse de dépôt et placement du Québec ($7 million) with the remaining minority stakes held by fifteen other private investors. MMA purchased the assets arising out of the 2002 bankruptcy of the holding company Iron Road Railways. Iron Road Railways owned the following subsidiaries at the time of its bankruptcy: Bangor & Aroostook Railroad Canadian American Railroad Northern Vermont Railroad Quebec Southern Railway Van Buren Bridge and Construction Company (VBB) Closing of the sale by the trustee for Iron Road Railways took place in January 2003 and MMA began operations over of track. An average of 25 trains were operating each day and the company employed roughly 350 people at that time. MMA's logo design was based on that of Bangor and Aroostook Railroad. 2003-2010 Cost-cutting Almost immediately after MMA began operations, two of the railway's largest customers, a pair of Great Northern Paper mills in Millinocket and East Millinocket, declared bankruptcy and shut