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IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

325 F.Supp. 302 (1971)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re ISSUANCE of TRUSTEES' CERTIFICATES.

United States District Court, E. D. Pennsylvania.

January 15, 1971.

Attorney(s) appearing for the Case

Robert W. Blanchette, New Haven, Conn., and Edwin P. Rome, Philadelphia, Pa., for Trustees.

Richardson Blair, Philadelphia, Pa., for Girard Trust Bank and other identure trustees.

James Wm. Moore, New Haven, Conn., Spencer Ervin, Jr., Philadelphia, Pa., and Joseph Auerbach, Sullivan & Worcester, Boston, Mass., for New York, New Haven and Hartford Trustees.

Jonathan Harkavy, Carter, Ledyard & Milburn, New York City, for United States Trust Co. of New York.

William E. Nelson, United States Dept. of Justice, for the United States.

Matthew J. Broderick, Philadelphia, Pa., for Penn Central Co.

Nathan Lavine, Adelman & Lavine, Philadelphia, Pa., for Security Ins. Co. of Hartford.

OPINION IN SUPPORT OF ORDER NO. 124 AUTHORIZING THE ISSUANCE OF TRUSTEES' CERTIFICATES

FULLAM, District Judge.

The question before the Court is whether the Trustees should be authorized to borrow $100 million by issuing trustees' certificates, pursuant to § 77(c) (3) of the Bankruptcy Act, 11 U. S.C. § 205(c) (3), to be guaranteed on behalf of the United States by the Secretary of Transportation pursuant...

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