IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

335 F.Supp. 840 (1971)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re Proposed Settlement with IRVING TRUST COMPANY, Trustee.

United States District Court, E. D. Pennsylvania.

November 18, 1971.


Attorney(s) appearing for the Case

Eugene E. Anderson, Jr., Dennis Faucher and John E. Wallace, Jr., Philadelphia, Pa., for the trustees, Penn Central Transportation Co.

Dilworth, Paxson, Kalish, Levy & Coleman by David Pittinsky, Philadelphia, Pa., and Winthrop, Stimson, Putnam & Roberts by Stephen Weiner, New York City, for Irving Trust Co., trustee.

Morgan, Lewis & Bockius by John N. Schaeffer, Jr., Philadelphia, Pa., for The Fidelity Bank.

Ballard, Spahr, Andrews & Ingersoll by Richardson Blair, Philadelphia, Pa., for Girard Trust Bank.

Fox, Rothschild, O'Brien & Frankel by Nochem S. Winnet, Philadelphia, Pa., for First National City Bank of New York.

Homer Kripke, for Oscar Lasdon, bondholder of Pittsburgh & Lake Erie Railroad Co.

Tate & Ervin by Spencer Ervin, Jr., Philadelphia, Pa., for Richard Joyce Smith, Trustee, New York, New Haven & Hartford Railroad.

Dechert, Price & Rhoads by Norma Shapiro, Philadelphia, Pa., for Penn Central Co.


In Proceedings for the Reorganization of a Railroad

OPINION AND ORDER NO. 497

FULLAM, District Judge.

The Trustees are the owners of, inter alia, 161,698 shares of the common stock of the Pittsburgh and Lake Erie Railroad Company ("P & LE"), pledged as collateral under two collateral trust indentures, dated April 15, 1965 and April 15, 1968, respectively, in which the Irving Trust Company...

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