Number: RL31550
Title: Railroad Reorganization Under the U.S. Bankruptcy Code: Implications of a Filing by Amtrak
Authors: Robin Jeweler, American Law Division 
Abstract: Amtrak's recent financial problems and its threat of shut-down have led many to question what procedures would be involved were Amtrak to file for bankruptcy. It is impossible to predict the outcome of any individual debtor's bankruptcy. Each bankruptcy is intensively fact-specific. The plan for and feasibility of reorganization - or liquidation - and the pay out to various creditors may depend upon agreements between a debtor and its creditors that occur prior to and after the bankruptcy filing. This report surveys those provisions in the Bankruptcy Code unique to railroad reorganization. And it considers laws governing Amtrak that could affect its filing under the Bankruptcy Code.
Pages: 7
Date: January 4, 2005