Notice2022-27259
CSX Transportation, Inc.-Corporate Family Merger Exemption-The Toledo Ore Railroad Company
Primary source
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Published
December 16, 2022
Issuing agencies
Surface Transportation Board
Full Text
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<title>Federal Register, Volume 87 Issue 241 (Friday, December 16, 2022)</title>
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[Federal Register Volume 87, Number 241 (Friday, December 16, 2022)]
[Notices]
[Page 77157]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-27259]
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SURFACE TRANSPORTATION BOARD
[Docket No. FD 36653]
CSX Transportation, Inc.--Corporate Family Merger Exemption--The
Toledo Ore Railroad Company
CSX Transportation, Inc. (CSXT), a Class I carrier, and The Toledo
Ore Railroad Company (TORCO), a Class III carrier, (collectively, the
Parties) have filed a verified notice of exemption for an intra-
corporate family transaction under 49 CFR 1180.2(d)(3). CSXT directly
controls and operates TORCO.\1\ TORCO owns approximately 2,100 feet of
rail track in the State of Ohio. Under the proposed transaction, TORCO
will be merged into CSXT with CSXT as the surviving corporate entity.
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\1\ According to the verified notice, CSXT and Norfolk Southern
Railway Company (NSR) have operated TORCO since 1999. CSXT states
that it will continue to abide by the agreements entered with NSR
governing the operations of TORCO.
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The Parties state that the purpose of the transaction is to reduce
corporate overhead and duplication by eliminating one corporation while
retaining the same assets to serve customers. In addition, CSXT will
obtain certain savings as a result of the transaction and the
accompanying corporate simplification.
Unless stayed, the exemption will be effective on December 31, 2022
(30 days after the verified notice was filed). The Parties state that
they intend to consummate the proposed transaction on or after that
date. 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.
Therefore, the transaction is exempt from the prior approval
requirements of 49 U.S.C. 11323. See 49 CFR 1180.2(d)(3).
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. As a condition to the use of
this exemption, any employees adversely affected by this transaction
will be protected by the conditions set forth in New York Dock
Railway--
Control--Brooklyn Eastern District Terminal, 360 I.C.C. 60 (1979).
If the verified notice contains false or misleading information,
the exemption is void ab initio. Petitions 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 effectiveness of the
exemption. Petitions for stay must be filed no later than December 23,
2022 (at least seven days before the exemption becomes effective).
All pleadings, referring to Docket No. FD 36653, must be filed with
the Surface Transportation Board either via e-filing or in writing
addressed to 395 E Street SW Washington, DC 20423-0001. In addition,
one copy of each pleading must be served on Louis E. Gitomer, Esq., Law
Offices of Louis E. Gitomer, LLC, 600 Baltimore Avenue, Suite 301,
Towson, MD 21204.
According to the Parties, this action is categorically excluded
from environmental review under 49 CFR 1105.6(c).
Board decisions and notices are available at <a href="http://www.stb.gov">www.stb.gov</a>.
Decided: December 12, 2022.
By the Board, Mai T. Dinh, Director, Office of Proceedings.
Stefan Rice,
Clearance Clerk.
[FR Doc. 2022-27259 Filed 12-15-22; 8:45 am]
BILLING CODE 4915-01-P
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</html>Indexed from Federal Register on December 16, 2022.
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