In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor.
In re SALE OF LAND AND FACILITIES TO the COMMONWEALTH OF MASSACHUSETTS, Settlement with New Haven Trustee and Boston and Albany bondholders.
United States District Court, E. D. Pennsylvania.https://leagle.com/images/logo.png
August 8, 1972.
Motion for Stay September 6, 1972.
Attorney(s) appearing for the Case
Robert Blanchette, John F. DePodesta, Philadelphia, Pa., for Trustees, Penn Central Transp. Co.
Sullivan & Worcester by Joseph Auerback, Robert G. Bleakney, Jr., and Morris Raker, Boston, Mass., Gratz, Tate, Spiegel, Ervin & Ruthrauff, by Spencer Ervin, Jr., and Wilbur Bourne Ruthrauff, Philadelphia, Pa., for Richard Joyce Smith, Trustee, New York, New Haven & Hartford RR.
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 Natl. City Bank of N. Y.
Davis, Polk & Wardwell by John R. Leekly, New York City, for Morgan Guaranty Trust Co. of N. Y. as indenture trustee.
Ballard, Spahr, Andrews & Ingersoll by Alan Fellheimer, Philadelphia, Pa., Liaison counsel for indenture Trustees.
Louis L. Waters, Asst. Corp. Counsel for City of New York.
Morgan, Lewis & Bockius by John N. Schaeffer, Jr., and Peter Koury, Philadelphia, Pa., for the Fidelity Bank.
Edward F. McLaughlin, New York City, for the trustees, Penn Central Transp. Co.
Duane, Morris & Heckscher by Henry T. Reath and Reeder R. Fox, Philadelphia, Pa., for New England Merchants Bank, indenture trustee for Boston & Albany RR.
Davis, Polk & Wardwell by Douglas M. Galin, and Dale L. Matschullat, New York City, for Bankers Trust Co., Mfg. Hanover Trust Co. and Morgan Guaranty Trust Co. of N. Y., as indenture trustees.
Joseph H. Elcock, Jr., Boston, Mass., for Mass. Bay Trans. Authority and Alan D. Altshuler, Secretary of Transportation, Comm. of Mass.
Joseph A. Blundon, Asst. Chief Counsel, Washington, D. C., for Urban Mass. Trans. Administration, U. S. Dept. of Transportation.
James J. Dausch, for United States Dept. of Justice.
David Berger and Gerald J. Rodos, Philadelphia, Pa., for Penn Central Co. and its shareholders.
Jerome E. Sharfman, Washington, D. C., for U. S. Dept. of Transportation.
Reeder R. Fox, Philadelphia, Pa., for Bankers Trust Co.
Morris R. Brooke and Andrew J. Valentine, for Amtrak.
Stern, Maxmin & Stern by I. Jerome Stern, Philadelphia, Pa., for Hans Jacobson, Heine & Co., John Tilney, and Walter Schloss Associates.
Drinker, Biddle & Reath by Patrick T. Ryan, Philadelphia, Pa., and Gaston, Snow, Motley & Holt by Arthur P. Schmidt, Gordon K. Bell and Stephen A. Moore, Boston, Mass., for The National Shawmut Bank of Boston, charge trustee.
United States District Court, E. D. Pennsylvania.
OPINION IN SUPPORT OF ORDER NOS. 867 and 868
FULLAM, District Judge.
The Trustees have filed a petition (Document No. 2725) for approval of a proposed sale of certain land and facilities to the Commonwealth of Massachusetts for a total price of $19.5 million. Included within the proposed sale are the following properties:
1. Approximately 50.65 miles of right-of-way, formerly the property of the reorganization trustee of the Boston and Providence...
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