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IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

354 F.Supp. 759 (1972)

In the Matter of PENN CENTRAL TRANSPORTATION CO., Debtor. The FIDELITY BANK et al. v. PENN CENTRAL et al.

United States District Court, E. D. Pennsylvania.

October 20, 1972.

Attorney(s) appearing for the Case

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

Morgan, Lewis & Bockius by John H. Lewis, Jr., and Christopher K. Walters, Philadelphia, Pa., for The Fidelity Bank.

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

OPINION AND ORDER NO. 980

FULLAM, District Judge.

FINDINGS OF FACT, DISCUSSION, CONCLUSIONS OF LAW AND ORDER

Fidelity Bank, a minority shareholder of the New York & Harlem Railroad ("Harlem") has brought this action, derivatively on behalf of the Harlem, challenging the 1873 lease of the Harlem rail assets to the Debtor's predecessors. As amended by stipulation of counsel, the complaint makes the following assertions:

Count 1—...

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