I mean arguably it is. It might not have the same extensive area of operation but both Avanti and LNR do still serve the most major parts of the London Midland region. It wouldn't be the same LMS since it would mostly be just WCML services out of Euston but it wouldn't be inaccurate to call it LMS Railway. Certainly no more inaccurate than calling it something like One West Coast even though the line only touches the west coast for about half a mile between Lancaster and Carnforth.But it isn't is it?
Derby, Nottingham, Leicester, Banbury, Leamington, Kidderminster, Barrow, Bolton etc etc say hello.
And I think Scotrail (and the Scottish government in particular) might object to "Scottish" appearing in the name of a train operator that serves only a handful of Scottish stations.
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