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IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

385 F.Supp. 609 (1974)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re PENN CENTRAL COMPANY ACTION IN UNITED STATES COURT OF CLAIMS.

United States District Court, E. D. Pennsylvania.

October 22, 1974.

Attorney(s) appearing for the Case

Charles A. Horsky, Washington, D. C., and Paul R. Duke, Philadelphia, Pa., Trustees, Penn. Cent. Transp. Co.

David Berger, Gerald J. Rodos and Paul J. McMahon, Philadelphia, Pa., for Penn Central Co.

Morris Raker, Boston, Mass. and Spencer Ervin, Jr., Philadelphia, Pa., for Richard Joyce Smith, Trustee, New York, New Haven & Hartford RR Co.

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

Nochem S. Winnett, Philadelphia, Pa., for First National City Bank of New York.

MEMORANDUM AND ORDER NO. 1698

FULLAM, District Judge.

Penn Central Company, the owner of all of the common stock of the Debtor, has brought suit against the United States in the Court of Claims (Ct.Cl. Docket No. 129-74) alleging, in substance, that since February 8, 1973, the rail operations of the Debtor have been carried on under compulsion of federal law, and that losses incurred since that date constitute a taking of property for which just compensation...

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