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MATTER OF PENN CENT. TRANSP. CO.

No. 70-347.

464 F.Supp. 465 (1978)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor, the United New Jersey Railroad and Canal Company, Beech Creek Railroad Company, the Cleveland, Cincinnati, Chicago and St. Louis Railway Company, the Cleveland & Pittsburgh Railroad Company, the Connecting Railway Company, the Delaware Railroad Company, Erie and Pittsburgh Railroad Company, the Michigan Central Railroad, the Northern Central Railway Company, Penndel Company, the Philadelphia, Baltimore & Washington Railroad Company, the Philadelphia & Trenton Railroad Company, the Pittsburgh, Youngstown and Ashtabula Railway Company, Pittsburgh, Fort Wayne and Chicago Railway Company, Union Railroad Company of Baltimore, Secondary Debtors.

United States District Court, E. D. Pennsylvania.

November 22, 1978.

Attorney(s) appearing for the Case

James E. Howard, Philadelphia, Pa., Philip Stansbury, J. Michael Hemmer, Washington, D. C., for Penn Central Trustees.

Laurence Z. Shiekman, Philadelphia, Pa., for Consolidated Rail Corp.

Vincent Hatton, Philadelphia, Pa., for Schedule A Indenture Trustees.

Richard G. Elliott, Jr., Wilmington, Del., for Wilmington Trust Co., Indenture Trustee.

Emil T. Bayko, Lance D. Myers, New York City, for Bankers Trust Company, as Indenture Trustee.

MEMORANDUM AND ORDER

FULLAM, District Judge.

On October 24, 1978, the Penn Central Reorganization Plan was consummated, and the reorganized company, Penn Central Corporation, came into existence. Pursuant to the Consummation Order, the distributions contemplated by the Plan are being carried out; that is, interests in and claims against the bankrupt estate, and the securities representing those claims and interests, are being exchanged for the cash and securities...

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