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MATTER OF READING CO.

No. 71-828.

463 F.Supp. 528 (1978)

In the Matter of READING COMPANY, Debtor.

United States District Court, E. D. Pennsylvania.

December 15, 1978.

Attorney(s) appearing for the Case

Howard H. Lewis and James A. Sox, Obermayer, Rebmann, Maxwell & Hippel, Philadelphia, Pa., for trustees of Reading.

David Berger, Berger & Montague, Philadelphia, Pa., for certain Reading bondholders.

Douglas G. Sanborn, Deputy Atty. Gen., State of N. J., Trenton, N. J., for the State of N. J.

OPINION

RELATING TO ORDER NO. 1519

DITTER, District Judge.

The trustees of the bankrupt Reading Company (Reading) petitioned for approval of a real estate tax settlement with one of its largest creditors. The issues before me were whether this settlement was in the best interest of the bankrupt and whether it would create unlawful consequences or undesirable precedents for other taxing authorities. This...

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