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PENNSYLVANIA R. R. CO. v. STATE OF N. Y.

11 N.Y.2d 504 (1962)

Pennsylvania Railroad Company et al., Appellants, v. State of New York, Respondent.

Court of Appeals of the State of New York.

Decided July 6, 1962.

Attorney(s) appearing for the Case

Edward F. Butler for Pennsylvania Railroad Company, appellant. Otto M. Buerger and William A. Colton for Long Island Rail Road Company, appellant.

Louis J. Lefkowitz, Attorney-General (Paxton Blair and Abe Wagman of counsel), for respondent.

Allen H. Merrill and William K. Davenport for Bankers Trust Company and others, amici curiæ.

Chief Judge DESMOND and Judges DYE, FROESSEL, VAN VOORHIS, BURKE and FOSTER concur.

FULD, J.

In 1954 the Long Island Rail Road Company qualified as a railroad redevelopment corporation under the newly revised article 7 of the Railroad Law (known as the Railroad Redevelopment Corporations Law). The question presented for decision is whether that qualification created a contract with the State so as to render later amendment of the statute unconstitutional as an impairment of contract obligation...

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