IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

395 F.Supp. 567 (1975)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re INTERIM FINANCING OF OPERATIONS.

United States District Court, E. D. Pennsylvania.

May 16, 1975.


Attorney(s) appearing for the Case

James E. Howard, Paul R. Duke, Philadelphia, Pa., and Covington & Burling by Charles A. Horsky, Washington, D. C., for the 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.

Ballard, Spahr, Andrews & Ingersoll by Frederic L. Ballard, Philadelphia, Pa., for institutional investors and indenture trustees.

Dilworth, Paxson, Kalish & Levy by Richard L. Bazelon, Philadelphia, Pa., for Irving Trust Co., as corporate trustee.

Rosenman, Colin, Kaye, Petschek, Freund & Emil by William W. Golub, New York City, for groups of equipment investors for whom First National City Bank is agent.

Shearman & Sterling by David L. Bleich, New York City, and Fox, Rothschild, O'Brien & Frankel by Nochem S. Winnet, Philadelphia, Pa., for First National City Bank of N. Y.

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

James F. Dausch, Dept. of Justice, for the U. S.


MEMORANDUM IN SUPPORT OF ORDER NO. 1884.

FULLAM, District Judge.

This proceeding arises out of an impasse in negotiations between the Federal Rail Administration (FRA) and the Trustees of the Penn Central Transportation Company concerning the character of the obligation which the Trustees should undertake in consideration for receipt of certain financial assistance under the Regional Rail Reorganization Act of...

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