Texas Central says dream of high-speed Dallas to Houston rail line lives on after CEO resigns

“While I could not align our current stakeholders on a common vision for a path forward, I wish the project the greatest success and remain convinced of the importance of this venture for the safety and prosperity of ALL Texans,” Aguilar wrote.

However, Aguilar’s wishes for the continuation of the project seemed in jest, as reports later surfaced that the company’s board had disbanded in the last month. More than a week later, conflicting reports have Texas Central either dissolved, about to be gone, or doing business as usual.

No one has been selected to replace Aguilar, but reports have surfaced that Michael Bui, who “specializes in financial advisory and corporate restructuring” at FTI Consulting, according to his company bio, is at the helm for the time being.

Texas Central did not respond to a request for comment, but earlier this week, a representative from the company filed a letter with the Texas Supreme Court affirming its status as an operating company.

“Contrary to such unsupported speculation, Texas Central remains open for business under its new management, is continuing to seek further investment, and is moving forward with the development of this high-speed train. Texas Central looks forward to this Court’s opinion in this case,” Texas Central appellate attorney Marie Yeates wrote.

Yeates is referring to Miles v. Texas Central, an eminent domain case that hinges on the law’s definition of what a rail company is. Texas Central believes it can exercise eminent domain in creating its 240-mile line connecting Houston and Dallas, and some landowners, like James Miles, have been fighting against Texas Central since January.

While the case was still in the Texas Supreme Court docket, Texas Attorney General Ken Paxton wrote a legal brief arguing that Texas Central was neither a railroad company nor an “interurban electric railway company.”

“The Respondents are not operating anything resembling a railroad,” Paxton wrote. “That they might possibly do so someday is not enough.”

As of Thursday, June 23, that possibility seems dimmer than it did in December, when Paxton filed his brief.

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