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IN RE PHILADELPHIA & WESTERN RY. CO.

No. 18014.

64 F.Supp. 738 (1946)

In re PHILADELPHIA & WESTERN RY. CO.

District Court, E. D. Pennsylvania.

February 11, 1946.

Attorney(s) appearing for the Case

David A. Kerr and Richard Hay Woolsey, both of Philadelphia, Pa., and Frank M. Hunter, of Media, Pa., for Philadelphia Suburban Transp. Co.

Drinker, Biddle & Reath, of Philadelphia, Pa., for debtor.

David F. Maxwell (of Edmonds, Obermayer & Rebmann), of Philadelphia, Pa., for Bondholders Committee.

M. Carton Dittmann, Jr., John Wintersteen, and George Wharton Pepper, all of Philadelphia, Pa., for respondents.

KIRKPATRICK, District Judge.

The debtor was for a period of more than ten years in reorganization under 77B, Bankr.Act, 11 U.S.C.A. § 207. No trustee was appointed, but the debtor was continued in possession under the management of directors approved by the Court. The debtor has been at all times during reorganization insolvent. A plan of reorganization has been approved and put into effect, under which the holders of the first mortgage bonds of the old company...

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