IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

363 F.Supp. 906 (1973)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor.

United States District Court, E. D. Pennsylvania.

August 31, 1973.


Attorney(s) appearing for the Case

Robert W. Blanchette, Robert Lipkin, Ivan Shomer, and Carl Helmetag, Jr., Philadelphia, Pa., for the Trustees, Penn Central Trans. Co.

David Berger, P. A. by David Berger, Michael K. Simon, Harold Berger and Paul Joseph McMahon, Philadelphia, Pa.,

Alan S. Fellheimer, Philadelphia, Pa., for Girard Trust Bank, indenture trustee.

Frederic L. Ballard, Philadelphia, Pa., for Institutional Investors, Penn Central Group.

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

Davis, Polk & Wardwell, by Richard M. Berman, New York City, for Morgan Guaranty Trust Co. of New York.

O'Melveny & Myers, by Warren Christopher, Los Angeles, Cal., for Pennsylvania Co.

Wolf, Block, Schorr & Solis-Cohen, by Michael Temin, Philadelphia, Pa., for First Pennsylvania Banking & Trust Co.


MEMORANDUM AND ORDER NO. 1307

FULLAM, District Judge.

The Trustees seek approval of a proposed contract with Victor Palmieri and Company, Incorporated (hereinafter referred to as "the Managers") relating to the management, development, and marketing of the Debtor's interests in non-operating real estate. The proposed agreement is not objected to by the Institutional Investors and the Indenture Trustees. It is actively opposed by the Penn Central Company...

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