MATTER OF PENN CENTRAL TRANSP. CO.

No. 70-347.

430 F.Supp. 467 (1977)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re SALE OF the WALDORF-ASTORIA HOTEL.

United States District Court, E. D. Pennsylvania.

March 23, 1977.


Attorney(s) appearing for the Case

Ivan Shomer, Philadelphia, Pa., for the Trustees, Penn Central Transportation Co.

Edith I. Spivack, New York City, for the City of New York.

Gratz, Tate, Spiegel, Ervin & Ruthrauff by Spencer Ervin, Jr., Philadelphia, Pa., for Richard Joyce Smith, Trustee, New York, New Haven & Hartford Railroad Co.

Friedman & Koven by Steven L. Bashwiner and George Cowell, Chicago, Ill., for Hilton Hotels and Waldorf-Astoria Hotel.


MEMORANDUM AND ORDER NO. 2868

FULLAM, District Judge.

The Trustees have petitioned for authority to sell the Debtor's interest in the land and improvements known as, and the personal property contained in, the Waldorf-Astoria Hotel to the present lessee, the Hotel Waldorf-Astoria Corporation. Since the record amply demonstrates that the sale price, $35 million, is fair and that consummation of the sale would...

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