MATTER OF PENN CENTRAL TRANSP. CO.

Nos. 76-1733 to 76-1735, 76-1815, 76-1817, 76-1862 and 76-2025 to 76-2028.

553 F.2d 12 (1977)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor (three cases). Appeal of COMMITTEE OF INTERLINE RAILROADS in Nos. 76-1733 to 76-1735, 76-1815 and 76-2025 (five cases). In the Matter of LEHIGH VALLEY RAILROAD COMPANY. In the Matter of READING COMPANY, Debtor. In the Matter of The CENTRAL RAILROAD COMPANY OF NEW JERSEY, Debtor. Appeal of R. D. TIMPANY, Trustee of the Property of the Central Railroad Company of New Jersey, in No. 76-1817. Appeal of INTERSTATE COMMERCE COMMISSION in Nos. 76-1862 and 76-2026 (two cases). Appeal of TRAILER TRAIN COMPANY and American Rail Box Car Company, in No. 76-2027. Appeal of FRUIT GROWERS EXPRESS COMPANY, in No. 76-2028.

United States Court of Appeals, Third Circuit.

Decided March 14, 1977.


Attorney(s) appearing for the Case

William R. Glendon, Thomas C. Morrison, Donald F. Luke, Rogers & Wells, New York City, for appellant, Committee of Interline Railroads; W. Charles Hogg, Jr., Edward C. Toole, Jr., Clark, Ladner, Fortenbaugh & Young, Philadelphia, Pa., Stryker, Tams & Dill, Newark, N. J., of counsel.

Henri F. Rush, I.C.C., Robert S. Burk, Acting Gen. Counsel, Charles H. White, Jr., Associate Gen. Counsel, Washington, D.C., for appellant, I.C.C.

William P. Quinn, Krusen, Evans & Byrne, Philadelphia, Pa., for appellants, Trailer Train Co., American Rail Box Car Co. and Fruit Growers Express Co.

William R. Traub, Duane Morris & Heckscher, Philadelphia, Pa., for appellee, Robert C. Haldeman, Trustee of the Lehigh Valley R. Co., Debtor.

James E. Howard, Robert Szwajkos, Philadelphia, Pa., for appellee, Trustees of the Property of Penn Central Transp. Co., Debtor.

John G. Harkins, Jr., Charles J. Bloom, Pepper, Hamilton & Scheetz, Philadelphia, Pa., for appellee, Consolidated Rail Corp.

Stanley Weiss, Newark, N. J., for appellee, cross-appellant R. D. Timpany, Trustee; Dean R. May, Carpenter, Bennett & Morrissey, Newark, N. J., on the brief.

Before: ALDISERT and GARTH, Circuit Judges, and STAPLETON, District Judge.


OPINION OF THE COURT

ALDISERT, Circuit Judge.

The Committee of Interline Railroads and the Interstate Commerce Commission, among others, have appealed under § 24 of the Bankruptcy Act, 11 U.S.C. § 47, from reorganization court orders1 which allow the Consolidated Rail Corporation, as agent for the debtor railroads in reorganization, to defer payment of pre-conveyance per diem obligations owed by the debtors to other...

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