In the matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor.
United States District Court, E. D. Pennsylvania.https://leagle.com/images/logo.png
March 1, 1974.
Reconsideration Denied March 19, 1974.
Attorney(s) appearing for the Case
Robert W. Blanchette, James E. Howard, John F. De Podesta, and Carl Helmetag, Jr., Philadelphia, Pa., for the Trustees, PCTC.
Covington & Burling by Charles A. Horsky, Washington, D. C., Special Counsel to the Trustees, PCTC.
Sullivan & Worcester by Joseph Auerbach, Boston, Mass., and Gratz, Tate, Spiegel, Ervin & Ruthrauff by Spencer Ervin, Jr., Philadelphia, Pa., for Richard Joyce Smith, Trustee, New York, New Haven & Hartford RR.
White & Case by Barry S. Greene, New York City, for Bankers Trust Co., as indenture trustee.
Kelley, Drye, Warren, Clark, Carr & Ellis by Edward Roberts, III, New York City, for Manufacturers Hanover Trust Co. and certain other indenture trustees.
Fox, Rothschild, O'Brien & Frankel by Nochem S. Winnet, Philadelphia, Pa., for First National City Bank of New York.
Willkie, Farr & Gallagher by Walter H. Brown, Jr., and Louis A. Craco, New York City, for Institutional Investors Penn Central Group.
Ballard, Spahr, Andrews & Ingersoll by Frederic L. Ballard, and Alan S. Fellheimer, Philadelphia, Pa., for Girard Trust Bank, indenture trustee.
Clark, Ladner, Fortenbaugh & Young by W. Charles Hogg, Jr., and Edward C. Toole, Jr., Philadelphia, Pa., for Committee of Interline Railroads.
James F. Dausch, Dept. of Justice, for the U. S. Government.
Rodney E. Eyster, Gen. Counsel for the Dept. of Transportation.
United States District Court, E. D. Pennsylvania.
MEMORANDUM IN SUPPORT OF ORDER No. 1480
FULLAM, District Judge.
Faced with the immediate prospect of exhaustion of available cash, the Trustees seek approval of an emergency arrangement with the Secretary of the United States Department of Transportation whereby the Secretary will make available approximately $10.8 million in order to prevent the occurrence of defaults by the Trustees in connection with certain equipment obligations.
Section 213...
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