In the Matter of LEHIGH VALLEY RAILROAD COMPANY.
Claim of PENN CENTRAL TRUSTEES FOR INTERLINE BALANCES.
United States District Court, E. D. Pennsylvania.https://leagle.com/images/logo.png
February 20, 1974.
February 20, 1974.
Attorney(s) appearing for the Case
Richard R. Bongartz, Westport Harbor, Mass., and Carl Helmetag, Jr., Philadelphia, Pa., for the trustees, Penn Central Transportation Co.
Duane, Morris & Heckscher by William R. Traub, Philadelphia, Pa., for the trustees, Lehigh Valley Railroad Co.
Willkie, Farr & Gallagher by Walter H. Brown Jr., New York City, for Institutional Investors, Penn Central Group.
Gratz, Tate, Spiegel, Ervin & Ruthrauff by Spencer Ervin, Jr., Philadelphia, Pa., for Richard Joyce Smith, trustee, New York, New Haven & Hartford Railroad Co.
Ballard, Spahr, Andrews & Ingersoll by Frederic L. Ballard, Philadelphia, Pa., for Girard Trust Bank, indenture trustee under Penn Central indentures.
Ballard, Spahr, Andrews & Ingersoll by Oliver Caldwell Biddle, Philadelphia, Pa., for Girard Trust Bank, indenture trustee under Lehigh Valley indentures.
Sherman & Sterling by John E. Hoffman, Jr., New York City, for indenture trustees of the Lehigh Valley Railroad Co.
Strong, Barnett, Hayes & Quinn by William P. Quinn, Philadelphia, Pa., for Delaware & Hudson Railway Co.
Morgan, Lewis & Bockius by John N. Schaeffer, Jr., Philadelphia, Pa., for Fidelity Bank, indenture trustee.
Fox, Rothschild, O'Brien & Frankel by Nochem S. Winnet, Philadelphia, Pa., for First National City Bank of New York.
Gordon P. MacDougall, Washington D. C., for the Commonwealth of Pennsylvania.
T. P. Shearer, Pittsburgh, Pa., for United Transportation Union.
Jerome E. Sharfman, Washington, D. C., for United States Dept. of Trans.
United States District Court, E. D. Pennsylvania.
OPINION AND ORDER NO. 226
FULLAM, District Judge.
In 1962, the Pennsylvania Railroad (predecessor to Penn Central Transportation Company) acquired ownership of 97.3% of the common stock of the Lehigh Valley Railroad Company. In 1966, when the merger between the Pennsylvania Railroad and the New York Central was under consideration by the Interstate Commerce Commission, the possible adverse effects of the proposed...
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