Florida's Brightline filed for bankruptcy protection. Revenue continued to fall short of expectations over the years, and the private railway operator was unable to repay the multi-billion dollar debt owed to finance the project. In the state of New Jersey, Miami-based Brightline filed an application for bankruptcy protection under Chapter 11 of the Bankruptcy Code. According to the application, its assets and liabilities are in the range of 1 billion to 10 billion US dollars. The company is supported by Fortress Investment Group. Interest payments have been suspended for most of this year, and intensive negotiations have been held with creditors to seek support from multiple creditors to restructure its complex debts totaling 5.5 billion US dollars.

Florida's Brightline filed for bankruptcy protection. Revenue continued to fall short of expectations over the years, and the private railway operator was unable to repay the multi-billion dollar debt owed to finance the project. In the state of New Jersey, Miami-based Brightline filed an application for bankruptcy protection under Chapter 11 of the Bankruptcy Code. According to the application, its assets and liabilities are in the range of 1 billion to 10 billion US dollars. The company is supported by Fortress Investment Group. Interest payments have been suspended for most of this year, and intensive negotiations have been held with creditors to seek support from multiple creditors to restructure its complex debts totaling 5.5 billion US dollars.