MATTER OF PENN CENTRAL TRANSPORTATION CO.

No. 70-347.

402 F.Supp. 127 (1975)

In the Matter of PENN CENTRAL TRANSPORTATION CO., Debtor. In re EQUIPMENT INSTALLMENTS.

United States District Court, E. D. Pennsylvania.

October 8, 1975.


Attorney(s) appearing for the Case

James E. Howard, Philadelphia, Pa., for Trustees, PCTC.

Sullivan & Worcester by Morris Raker, 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 Co.

James F. Dausch, Washington, D. C., for U. S. Dept. of Justice.

Jerome Sharfman, Washington, D. C., for U. S. Dept. of Transportation.

Rosenman, Colin, Kaye, Petschek, Freund & Emil by Ambrose Doskow, and William W. Golub, New York City, for First National City Bank of New York.

Ballard, Spahr, Andrews & Ingersoll, by Richardson Blair, Philadelphia, Pa., for Institutional Investors and Indenture Trustees on Schedule A.

Michael T. Haley, Washington, D. C., for Federal Railroad Administration.


MEMORANDUM AND ORDER NO. 2037

FULLAM, District Judge.

The Government has applied for further relief in its continuing efforts to acquire interests in equipment obligations covering some of the Debtor's rolling stock, as a means of providing cash to support interim operation of the railroad through the use of funds obtained pursuant to § 215 of the Regional Rail Reorganization Act of 1973 (hereinafter RRRA).

The specific issue presented is whether...

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