Finance Docket No. 33517]
American Railnet, Inc.--Continuance in Control Exemption--Illinois Railnet, Inc.
American Railnet, Inc. (Railnet) has filed a notice of exemption to continue in
control of the Illinois Railnet, Inc. (IR), upon IR's becoming a Class III
earliest the transaction could be consummated was December 9, 1997, the
effective date of the exemption (7 days after the exemption was filed).
transaction is related to STB Finance Docket No. 33516, Illinois Railnet,
Inc.--Acquisition and Operation Exemption--The
controls one existing Class III railroad:
states that: (i) the rail lines to be operated by IR do not connect with any
railroad in the corporate family; (ii) the transaction is not part of a series
of anticipated transactions that would connect IR's lines with any railroad in
the corporate family; and (iii) the transaction does not involve a Class I
carrier. Therefore, the transaction is exempt from the prior approval
requirements of 49 U.S.C. 11323. See 49 CFR 1180.2(d)(2).
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
the 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 transaction.
original and 10 copies of all pleadings, referring to STB Finance Docket No.
33517, must be filed with the Surface Transportation Board, Office of the
Secretary, Case Control Unit,
the Board, David M. Konschnik, Director, Office of Proceedings.