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August 14, 2013 8:00 AM, EDT
Canada Suspends License of Railroad Involved in Quebec Crash

Canadian regulators have suspended the operating certificate of the railroad involved with last month’s railcar crash in Quebec that killed 47 people, Bloomberg News reported.

The Canadian Transportation Agency said the Montreal, Maine & Atlantic Railway lacked sufficient liability coverage in the wake of the July 6 crash of railcars loaded with crude oil that became untethered and rolled off the tracks in the town of Lac-Megantic.

The suspension of the so-called certificate of fitness will take effect Aug. 20, Bloomberg reported.

The railroad filed for bankruptcy protection in Canada and the United States last week because of potential liability from the accident, Canada’s worst rail disaster since 1910.

A criminal probe by Quebec authorities is under way, Bloomberg reported.