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IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

335 F.Supp. 842 (1971)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re PETITION OF HOTEL WALDORFASTORIA CORPORATION.

United States District Court, E. D. Pennsylvania.

November 10, 1971.

Attorney(s) appearing for the Case

Blank, Rome, Klaus & Comisky by Gilbert Stein and Gerald Broker, Philadelphia, Pa., for the Trustee, Penn Central Transportation Co.

Clark, Ladner, Fortenbaugh & Young by W. Charles Hogg, Jr., Philadelphia, Pa., and Royall, Koegel & Wells by Frederick P. Glick, Robert E. Frisch and William J. O'Brien, II, New York City, for Hotel Waldorf-Astoria Corp.

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

Tate & Ervin by W. Bourne Ruthrauff, Philadelphia, Pa., for Richard Joyce Smith, Trustee, New York, New Haven & Hartford Railroad.

In Proceedings for the Reorganization of a Railroad

OPINION AND ORDER NO. 484

FULLAM, District Judge.

The Trustees of the Debtor own the fee title to the Waldorf-Astoria Hotel in the City of New York. This property, comprising an entire block bounded by 49th and 50th Streets and by Park Avenue and Lexington Avenue, is presently leased to the Hotel Waldorf-Astoria Corporation under a long-term lease. A dispute has arisen as to the proper method of determining the rentals due and payable under this lease, and...

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