[Federal Register Volume 63, Number 46 (Tuesday, March 10, 1998)]
[Notices]
[Page 11707]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-6144]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 33541]
RMW Ventures, L.L.C.--Corporate Family Transaction Exemption--
C&NC, L.L.C., Maumee & Western, L.L.C., and Wabash Central, L.L.C
RMW Ventures, L.L.C. (RMW), a noncarrier holding corporation for
C&NC, L.L.C., Maumee & Western, L.L.C., and Wabash Central,
L.L.C.,1 has filed a verified notice of exemption. The
proposed exempt transaction is a merger of C&NC, L.L.C., Maumee &
Western, L.L.C., and Wabash Central, L.L.C., into RMW.
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\1\ C&NC, L.L.C., Maumee & Western, L.L.C., and Wabash Central,
L.L.C. are Class III railroads which own rail lines in the States of
Indiana and Ohio.
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The parties intended to consummate the transaction on or after
February 20, 1998. However, the exemption in STB Finance Docket No.
33541 could not become effective until after the effective date of the
transaction in STB Finance Docket No. 33565, RMW Ventures, L.L.C.--
Control Exemption--C&NC, L.L.C., Maumee & Western, L.L.C., and Wabash
Central, L.L.C.2
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\2\ The exemption in STB Finance Docket No. 33565, which covers
the transaction by which RMW would be authorized to control C&NC,
L.L.C., Maumee & Western, L.L.C., and Wabash Central, L.L.C., is
scheduled to become effective on March 5, 1998.
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The proposed merger will provide for unified management and
development of the subject rail properties.
Upon consummation of the lawful control that is the subject of the
exemption in STB Finance Docket No. 33565, this transaction will be one
within a corporate family of the type specifically exempted from prior
review and approval under 49 CFR 1180.2(d)(3). The parties state that
the transaction will not result in adverse changes in service levels,
significant operational changes, or a change in the competitive balance
with carriers outside the corporate family.
Under 49 U.S.C. 10502(g), the Board may not use its exemption
authority to relieve a rail carrier of its statutory obligation to
protect the interests of its employees. Section 11326(c), however, does
not provide for labor protection for transactions under sections 11324
and 11325 that involve only Class III rail carriers. Because this
transaction involves Class III rail carriers only, the Board, under the
statute, may not impose labor protective conditions for this
transaction.
If the verified notice contains false or misleading information,
the exemption is void ab initio. Petitions to reopen the proceeding to
revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time.
The filing of a petition to reopen will not automatically stay the
transaction.
An original and 10 copies of all pleadings, referring to STB
Finance Docket No. 33541, must be filed with the Surface Transportation
Board, Office of the Secretary, Case Control Unit, 1925 K Street, N.W.,
Washington, DC 20423-0001. In addition, a copy of each pleading must be
served on Richard A. Wilson, Esq., 1126 Eighth Avenue, Suite 403,
Altoona, PA 16602.
Decided: March 3, 1998.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 98-6144 Filed 3-9-98; 8:45 am]
BILLING CODE 4915-00-P
