In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor.
In re TAX COMPROMISE PROGRAM.
United States District Court, E. D. Pennsylvania.https://leagle.com/images/logo.png
September 15, 1977.
September 15, 1977.
Attorney(s) appearing for the Case
Maryland Atty. Gen. Office by Carl E. Eastwick, Asst. Atty. Gen., Baltimore, Md., for State of Md.
Carl Helmetag, Jr., John J. Ehlinger, Jr., Philadelphia, Pa., for the Penn Central Trustees.
Kelley, McCann & Livingstone by Walter C. Kelley, Jr., Margaret A. Foster, Cleveland, Ohio, for Cleveland Bd. of Ed.
William F. Hyland, Atty. Gen. of N. J., by Herbert K. Glickman, Barry D. Szafgrman, Deputy Attys. Gen., Trenton, N. J., for State of N. J.
Richard B. McQuade, Jr., Pros. Atty., Fulton County, Ohio, Wauseon, Ohio, for Ohio County Treasurer and other Ohio taxing authorities.
City of Pittsburgh Law Dept. by D. R. Pellegrini, Pittsburgh, Pa., for City of Pittsburgh.
William J. Scott, Ill. Atty. Gen., by Gerald L. Gold, Asst. Atty. Gen., for State of Illinois and 43 Illinois Counties having claims herein.
Jersey City Law Dept. by Bruce C. Fishelman, Jersey City, N. J., for City of Jersey City.
Shearman & Sterling by Kenneth M. Kramer, New York City, for Citibank, N.A. as Agent for the Committee of Secured Bank Creditors.
Gratz, Tate, Spiegel, Erwin & Ruthrauff by Spencer Ervin, Jr., Philadelphia, Pa., Sullivan & Worcester by Joseph Auerbach, Boston, Mass., for New Haven Trustee.
United States District Court, E. D. Pennsylvania.
MEMORANDUM AND ORDER NO. 3147.
FULLAM, District Judge.
Orders Nos. 2922 and 2929 authorized the Trustees to extend offers to all taxing authorities to settle all outstanding tax claims by an immediate payment in cash of 50% of the principal amount of all post-bankruptcy taxes, or 44% of the aggregate of pre- and post-petition taxes, whichever is greater. The present deadline for acceptance of the compromise proposal is October 22, 1977.
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