A possible buyer of the Kingston Flyer is "keeping a close eye" on developments as negotiations continue between Kingston Development Ltd and finance company Prudential Mortgage.
Allen Brown, of United States rail consortium Railmark, told the Otago Daily Times he would be watching negotiations between the two parties closely and indicated he still had an interest in the train.
"I think everyone wants it resolved, but I think we will just sit tight and see what happens," Mr Brown said.
The US-based businessman has had issues with the way Prudential had conducted business with him in the past.
He has twice made offers for the Flyer and been turned down by both Prudential and receiver Lindsay McClean, of Queenstown.
When asked yesterday, Kingston Flyer veteran manager Russell Glendinning said talks were still in limbo.
"It seems a stalemate to me. I'm very curious as to what is going on."
Mr Glendinning said the two parties were playing their cards close to their chests and no-one in the district had any real idea as to what would result.
"Seems to me the Flyer is being held to ransom," he said.
Mr McClean, of Malloch McClean declined to comment.
Since the train operation went into receivership in 2009, owing $4.9 million to Prudential Mortgage, it has sat idle in Kingston.
- Olivia Caldwell
