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MATTER OF PENN CENT. TRANSP. CO.

Nos. 76-1514 and 76-1516.

570 F.2d 1189 (1978)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. Appeal of CONSOLIDATED RAIL CORPORATION and United States Railway Association, in Nos. 76-1514, 1515, 1516. In the Matter of LEHIGH VALLEY RAILROAD COMPANY. In the Matter of READING COMPANY, Debtor.

United States Court of Appeals, Third Circuit.

Submitted December 1, 1977.

Decided February 3, 1978.

Attorney(s) appearing for the Case

John G. Harkins, Jr., Laurence Z. Shiekman, Pepper, Hamilton & Scheetz, Philadelphia, Pa., for appellant, Consolidated Rail Corp.

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

Lewis A. Grafman, Philadelphia, Pa., Edwin Rector, Howard M. Wilchins, U.S. Railway Association, Stephen C. Rogers, U.S. Railway Ass'n, Washington, D. C., for appellant, United States Railway Association.

Howard H. Lewis, Jeffrey B. Rotwitt, Obermayer, Rebmann, Maxwell & Hippel, Philadelphia, Pa., for appellees, Andrew L. Lewis, Jr. and Joseph L. Castle, Trustees of Reading Co.

Frederic L. Ballard, Oliver C. Biddle, Lewis A. Grafman, James D. Coleman, Ballard, Spahr, Andrews & Ingersoll, Philadelphia, Pa., for appellees, Institutional Investors and Certain Indenture Trustees.

William R. Traub, Duane, Morris & Heckscher, Philadelphia, Pa., for appellee, Lehigh Valley Railroad Co.

Before ADAMS, VAN DUSEN, Circuit Judges, and TEITELBAUM, District Judge.

Argued as to Nos. 76-1515 and 76-1516 on January 4, 1977.

Submitted as to No. 76-1514 on December 1, 1977.

OPINION OF THE COURT

ADAMS, Circuit Judge.

These appeals arise out of railroad reorganization proceedings pertaining to the Penn Central Transportation Company, the Reading Company and the Lehigh Valley Railroad Company. Specifically, the Consolidated Rail Corporation (ConRail) and the United States Railway Association (USRA) challenge...

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