Jenner & Block

Firm Represents Chicago, Milwaukee Railroad Shareholders in Bankruptcy

On this day in 1977, the Chicago, Milwaukee, St. Paul, and Pacific Railroad filed for bankruptcy.  The firm represented the Milwaukee’s shareholders and, after the bankruptcy’s successful conclusion, the reorganized debtor, Heartland Partners.  At the time of the Milwaukee’s bankruptcy filing, the line carried 18,000 commuters daily and operated a 9,251-mile system in 17 states, according to the Chicago Tribune.  And it was the second Chicago-based railroad to file for bankruptcy within three years; the Chicago, Rock Island & Pacific Railroad – its largest shareholder also represented by Jenner & Block – filed in 1974.

TAGS: 1975-1984, Bankruptcy, Railroad

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