MATTER OF LEHIGH VALLEY R. CO.

No. 76-2020.

558 F.2d 137 (1977)

In the Matter of LEHIGH VALLEY RAILROAD COMPANY, Debtor. Appeal of CITIBANK, N. A. (formerly known as First National City Bank), as Indenture Trustee of the Lehigh Valley Harbor Terminal Railway Company Mortgage Indenture, dated February 1, 1924, as supplemented.

United States Court of Appeals, Third Circuit.

Decided June 3, 1977.

As Amended October 12, 1977.


Attorney(s) appearing for the Case

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

John E. Hoffman, Jr., Andrew S. O'Connor, New York City, for appellant, Citibank, N.A., as indenture trustee; Shearman & Sterling, New York City, of counsel.

Charles A. Horsky, Covington & Burling, Washington, D.C., James E. Howard, Philadelphia, Pa., for Robert W. Blanchette, Richard C. Bond and John H. McArthur, Trustees of the Property of Penn Central Transp. Co., debtor, for amici curiae.

Before GIBBONS, FORMAN and ROSENN, Circuit Judges.


OPINION OF THE COURT

FORMAN, Circuit Judge.

This is an appeal, taken pursuant to the Bankruptcy Act, 11 U.S.C. § 47, from Order No. 362 of the United States District Court for the Eastern District of Pennsylvania, entered in the Lehigh Valley Railroad reorganization proceedings. Order No. 362 denies the petition of Citibank, N.A., as Indenture Trustee of a certain mortgage bond issue on which Lehigh Valley is the obligor, for the sequestration of rent...

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