Pioneer Railcorp, Pioneer Railroad Services, Inc., and Decatur Junction Railway Co.-Exemption for Transaction Within a Corporate Family, 77597 [2014-30202]

Download as PDF Federal Register / Vol. 79, No. 247 / Wednesday, December 24, 2014 / Notices DEPARTMENT OF TRANSPORTATION Surface Transportation Board Decided: December 19, 2014. By the Board, Rachel D. Campbell, Director, Office of Proceedings. Raina S. White, Clearance Clerk. [Docket No. FD 35885] mstockstill on DSK4VPTVN1PROD with NOTICES Peru Land Acquisition 2, LLC— Acquisition Exemption—Rail Line of The City of Peru, Ill. Peru Land Acquisition 2, LLC (PLA2), a noncarrier, has filed a verified notice of exemption under 49 CFR 1150.31 to acquire from the City of Peru, Ill. (Peru) ownership of approximately 3.5 miles of rail line (the Peru City Track), in Bureau and LaSalle Counties, Ill. According to PLA2, there are no mileposts associated with the line. The line was formerly owned by LaSalle & Bureau County Railroad Company and was subsequently sold to Peru. The trackage extends from a point of connection with Illinois Railway, LLC (IR), a Class III rail carrier, on its western end, to the end of the line west of Illinois Route 251. This transaction is related to a concurrently filed verified notice of exemption in Docket No. FD 35886, Illinois Railway, LLC—Lease and Operation Exemption—Rail Line of Peru Land Acquisition 2, LLC, wherein IR seeks Board approval to lease and operate the Peru City Track, upon PLA2’s becoming a Class III rail carrier. The transaction may be consummated on or after January 10, 2015 (30 days after the notice of exemption was filed). PLA2 certifies that its projected annual revenues as a result of this transaction will not result in its becoming a Class II or Class I rail carrier and will not exceed $5 million. PLA2 states that the acquisition agreement does not include any provision limiting PLA2’s future interchange of traffic on the line with a third-party connecting carrier. 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 to stay must be filed no later than January 2, 2015 (at least 7 days before the exemption becomes effective). An original and 10 copies of all pleadings, referring to Docket No. FD 35885, must be filed with the Surface Transportation Board, 395 E Street SW., Washington, DC 20423–0001. In addition, a copy of each pleading must be served on Michael J. Barron, Jr., Fletcher & Sippel LLC, 29 North Wacker Drive, Suite 920, Chicago, IL 60606. VerDate Sep<11>2014 16:34 Dec 23, 2014 Jkt 235001 Board decisions and notices are available on our Web site at WWW.STB.DOT.GOV. [FR Doc. 2014–30201 Filed 12–23–14; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF TRANSPORTATION Surface Transportation Board [Docket No. FD 35887] Pioneer Railcorp, Pioneer Railroad Services, Inc., and Decatur Junction Railway Co.—Exemption for Transaction Within a Corporate Family Pioneer Railcorp (PIONEER), Pioneer Railroad Services, Inc. (PRS), and Decatur Junction Railway Co. (DJR) (collectively, the Applicants) have filed a verified notice of exemption under 49 CFR 1180.2(d)(3) for a corporate family transaction in which: (1) PRS will acquire from DJR a rail line extending between milepost 745.54, at/near Elwin, Ill., and milepost 749.94, in/near Decatur, Ill., a distance of approximately 4.4 miles in Macon County, Ill.; (2) PIONEER will continue in control of PRS when it becomes a Class III rail carrier, upon PRS’s acquisition of the line; and (3) pursuant to a lease agreement with PRS, DJR will continue to operate the line. According to Applicants, PRS and DJR are currently owned by PIONEER, which owns 100% of the common stock of 17 Class III rail carrier subsidiaries. Applicants also state that DJR currently owns the line and that PRS certifies that: (1) Its annual revenues as a result of this transaction will not exceed those that would qualify it as a Class III rail carrier; and (2) annual revenues on the line will not exceed $5 million. Pursuant to a written agreement that has not yet been executed, Applicants state that PRS will purchase the line from DJR and subsequently leaseback operating rights to DJR, which will continue to operate, maintain, and perform contract and common carrier service on the line. In addition, Applicants state that the agreement will contain no restrictions on interchange. Unless stayed, the exemption will be effective on January 7, 2015 (30 days after the verified notice was filed).1 letter filed December 8, 2014, Applicants supplemented its notice of exemption. Because Applicants supplemented its verified notice on 77597 Applicants state they propose to consummate the transaction on or about December 31, 2014. But the earliest the transaction may be consummated is after the January 7, 2015 effective date of the exemption. According to Applicants, the purpose of this proposed transaction is to improve operating and administrative efficiencies within the corporate family. The line transfer is a transaction within a corporate family exempted from prior review and approval under 49 CFR 1180.2(d)(3). Applicants 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 §§ 11324 and 11325 that involve only Class III rail carriers. Accordingly, the Board may not impose labor protective conditions here, because all of the carriers involved are Class III rail carriers. If 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 effectiveness of the exemption. Petitions for stay must be filed no later than December 31, 2014 (at least seven days before the exemption becomes effective). An original and 10 copies of all pleadings, referring to Docket No. FD 35887, must be filed with the Surface Transportation Board, 395 E Street SW., Washington, DC 20423–0001. In addition, one copy of each pleading must be served on the Applicants’ representative, Daniel A. LaKemper, Esq., General Counsel, Pioneer Railcorp, 1318 S. Johanson Road, Peoria, Illinois 61607. Board decisions and notices are available on our Web site at WWW.STB.DOT.GOV. Decided: December 19, 2014. By the Board, Rachel D. Campbell, Director, Office of Proceedings. Raina S. White, Clearance Clerk. [FR Doc. 2014–30202 Filed 12–23–14; 8:45 am] BILLING CODE 4915–01–P 1 By PO 00000 Frm 00157 Fmt 4703 Sfmt 9990 December 8, 2014, that date is considered the filing date of the verified notice. E:\FR\FM\24DEN1.SGM 24DEN1

Agencies

[Federal Register Volume 79, Number 247 (Wednesday, December 24, 2014)]
[Notices]
[Page 77597]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-30202]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[Docket No. FD 35887]


Pioneer Railcorp, Pioneer Railroad Services, Inc., and Decatur 
Junction Railway Co.--Exemption for Transaction Within a Corporate 
Family

    Pioneer Railcorp (PIONEER), Pioneer Railroad Services, Inc. (PRS), 
and Decatur Junction Railway Co. (DJR) (collectively, the Applicants) 
have filed a verified notice of exemption under 49 CFR 1180.2(d)(3) for 
a corporate family transaction in which: (1) PRS will acquire from DJR 
a rail line extending between milepost 745.54, at/near Elwin, Ill., and 
milepost 749.94, in/near Decatur, Ill., a distance of approximately 4.4 
miles in Macon County, Ill.; (2) PIONEER will continue in control of 
PRS when it becomes a Class III rail carrier, upon PRS's acquisition of 
the line; and (3) pursuant to a lease agreement with PRS, DJR will 
continue to operate the line.
    According to Applicants, PRS and DJR are currently owned by 
PIONEER, which owns 100% of the common stock of 17 Class III rail 
carrier subsidiaries. Applicants also state that DJR currently owns the 
line and that PRS certifies that: (1) Its annual revenues as a result 
of this transaction will not exceed those that would qualify it as a 
Class III rail carrier; and (2) annual revenues on the line will not 
exceed $5 million. Pursuant to a written agreement that has not yet 
been executed, Applicants state that PRS will purchase the line from 
DJR and subsequently leaseback operating rights to DJR, which will 
continue to operate, maintain, and perform contract and common carrier 
service on the line. In addition, Applicants state that the agreement 
will contain no restrictions on interchange.
    Unless stayed, the exemption will be effective on January 7, 2015 
(30 days after the verified notice was filed).\1\ Applicants state they 
propose to consummate the transaction on or about December 31, 2014. 
But the earliest the transaction may be consummated is after the 
January 7, 2015 effective date of the exemption.
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    \1\ By letter filed December 8, 2014, Applicants supplemented 
its notice of exemption. Because Applicants supplemented its 
verified notice on December 8, 2014, that date is considered the 
filing date of the verified notice.
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    According to Applicants, the purpose of this proposed transaction 
is to improve operating and administrative efficiencies within the 
corporate family.
    The line transfer is a transaction within a corporate family 
exempted from prior review and approval under 49 CFR 1180.2(d)(3). 
Applicants 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 Sec. Sec.  
11324 and 11325 that involve only Class III rail carriers. Accordingly, 
the Board may not impose labor protective conditions here, because all 
of the carriers involved are Class III rail carriers.
    If 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 effectiveness of the exemption. 
Petitions for stay must be filed no later than December 31, 2014 (at 
least seven days before the exemption becomes effective).
    An original and 10 copies of all pleadings, referring to Docket No. 
FD 35887, must be filed with the Surface Transportation Board, 395 E 
Street SW., Washington, DC 20423-0001. In addition, one copy of each 
pleading must be served on the Applicants' representative, Daniel A. 
LaKemper, Esq., General Counsel, Pioneer Railcorp, 1318 S. Johanson 
Road, Peoria, Illinois 61607.
    Board decisions and notices are available on our Web site at 
WWW.STB.DOT.GOV.

    Decided: December 19, 2014.

    By the Board, Rachel D. Campbell, Director, Office of 
Proceedings.
Raina S. White,
Clearance Clerk.
[FR Doc. 2014-30202 Filed 12-23-14; 8:45 am]
BILLING CODE 4915-01-P

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