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IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

346 F.Supp. 1333 (1972)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re Petition of NEW YORK STATE URBAN DEVELOPMENT CORP. Order No. 747.

United States District Court, E. D. Pennsylvania.

June 2, 1972.

Attorney(s) appearing for the Case

Blank, Rome, Klaus & Comisky by Marvin Comisky, and Norman L. Holmes, Philadelphia, Pa., for Trustees, Penn Central.

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

Fox, Rothschild, O'Brien & Frankel by Nochem S. Winnet, Philadelphia, Pa., for First Natl. City Bank of N. Y.

Ballard, Spahr, Andrews & Ingersoll by Frederic L. Ballard, Philadelphia, Pa., for Girard Trust Bank and Morgan Guaranty Trust Co.

Morgan, Lewis & Bockius by John N. Schaeffer, Jr., Philadelphia, Pa., for The Fidelity Bank.

Kelley, Drye, Warren, Clark, Carr & Ellis by Edward Roberts, III, New York City, for Mfg. Hanover Trust Co. as trustee under Debtor's gold bond mortgage of 1897.

Dechert, Price & Rhoads by Matthew J. Broderick, Philadelphia, Pa., for Penn Central Co.

Willkie, Farr & Gallagher by Walter H. Brown, Jr., New York City, for Institutional Investors, Penn Central Group.

Sage, Gray, Todd & Sims by Herschel E. Sparks, Jr., New York City, for New York State Urban Development Corp.

OPINION AND ORDER NO. 747

FULLAM, District Judge.

The indenture trustees of the "Hudson River Mortgages," desiring to appeal from Order No. 706 herein, 346 F.Supp. 1330, have requested a stay of that Order pending appeal.

The Order appealed from requires the indenture trustees to release from the lien of their mortgages certain property which was conveyed to the New York State Urban Development Corporation (...

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