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Rail News Home High-Speed Rail

2/17/2012



Rail News: High-Speed Rail

Bankrupt Maglev Inc. to sell assets


A company that had sought to operate magnetic levitation trains between Pittsburgh International Airport and Greensburg, Penn., will sell its assets at a public auction, according to a Feb. 14 article in the Pittsburgh Tribune-Review.

Pittsburgh-based Maglev Inc. filed for Chapter 11 bankruptcy protection in July 2011; since the early 1990s, the company had received nearly $23 million in federal funds and $7 million in state tax dollars, according to the article.

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