Troubled MTR Western to be sold for $5M
Documents in a bankruptcy filing show MTR Western, the transit company owned by Frederick Berg, will be sold to Seattle-based GTO for $5 million.
Documents in a bankruptcy filing show MTR Western, the transit company owned by Frederick Berg, will be sold to Seattle-based GTO for $5 million.
In its continuing coverage of the tribulations of Frederick Darren Berg and MTR Western, Seattle Times staff writers report that a bankruptcy auction for MTR Western, the luxury motor-coach company, has been scheduled for January 12.
A Seattle, WA-based investor group has signed a letter of intent to purchase the Washington, California and British Columbia operating assets of bankrupt MTR Western.
A Seattle bankruptcy attorney now oversees the personal Chapter 11 bankruptcy filing of Frederick Darren Berg, who owns MTR Western, one of the largest luxury charter motorcoach companies in the country.
When Rocky Mountaineer Vacations shut down its Gray Line West operation in Vancouver, BC, Canada in 2007, the move created a significant void in sightseeing options for this area. Gray Line was the only large bus sightseeing operation in Vancouver and had been running for years.