Montreal, Maine & Atlantic, the railway that owned the trains in last month's deadly derailment and explosion in Lac-Megantic, Quebec, filed for bankruptcy protection Wednesday.
MM&A says the move is to preserve the value of its assets. Also yesterday, a company called Sun Corp announced that it wants to start shipping oil from the west into Montreal by rail. Sun Corp wants to bring in 400 tankers of oil a day.
CBC reporter Thomas Daigle says MM&A could have been in financial trouble even before the derailment.