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MATTER OF LEHIGH VALLEY RAILROAD

No. 70-342.

351 F.Supp. 1132 (1972)

In the Matter of LEHIGH VALLEY RAILROAD, Debtor. In re DEFERRAL OF TAXES.

United States District Court, E. D. Pennsylvania.

December 4, 1972.

Attorney(s) appearing for the Case

William R. Traub, Duane, Morris & Heckscher, Philadelphia, Pa., for Trustees, Lehigh Valley RR.

Thomas P. Zolezzi, Asst. Atty. Gen., for New York.

Kenneth F. Yates, Deputy Atty. Gen., for New Jersey.

Herman Rosenberger, Asst. Atty. Gen., for Commonwealth of Pa.

MEMORANDUM AND ORDER NO. 139

FULLAM, District Judge.

The Trustees have petitioned for authority to defer payment of taxes. I have concluded that the petition should be granted.

I am satisfied that temporary deferral of tax payments is necessary in order to insure continued operation of the railroad; that the Trustees do not have, and have no immediate prospect of obtaining, sufficient cash to pay taxes and continue rail operations; and that the hardship...

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