[Federal Register Volume 61, Number 174 (Friday, September 6, 1996)]
[Notices]
[Page 47233]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-22782]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board 1
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\1\ The ICC Termination Act of 1995, Pub. L. No. 104-88, 109
Stat. 803, which was enacted on December 29, 1995, and took effect
on January 1, 1996, abolished the Interstate Commerce Commission and
transferred certain functions to the Surface Transportation Board
(Board). This notice relates to functions that are subject to Board
jurisdiction pursuant to 49 U.S.C. 11323-24.
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[STB Finance Docket No. 33017]
Chicago Rail Link, L.L.C.--Corporate Family Transaction Exemption--
Chicago, West Pullman & Southern Railroad, L.L.C.
Chicago Rail Link, L.L.C., (CRL), and Chicago, West Pullman &
Southern Railroad, L.L.C. (CWP), both Class III railroads, have jointly
filed a verified notice of exemption. The exempt transaction is a
merger of CWP into CRL.2
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\2\ CRL and CWP are wholly owned subsidiaries of OmniTRAX, Inc.,
a noncarrier holding company.
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The transaction was expected to be consummated on or after the
August 15, 1996 effective date of the exemption.
The proposed merger will enhance operating economies, improve
service, simplify the corporate structure, and improve the financial
viability of the surviving corporation by eliminating costs associated
with separate accounting, tax, bookkeeping and reporting functions.
This is a transaction 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 revoke will not automatically stay the
transaction.
An original and 10 copies of all pleadings, referring to STB
Finance Docket No. 33017, must be filed with the Surface Transportation
Board, Office of the Secretary, Case Control Branch, 1201 Constitution
Avenue, N.W., Washington, DC 20423. In addition, a copy of each
pleading must be served on Karl Morell, Esq., Ball Janik LLP, 1455 F
Street, N.W., Suite 225, Washington, DC 20005.
Decided: August 29, 1996.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 96-22782 Filed 9-5-96; 8:45 am]
BILLING CODE 4915-00-P
