MATTER OF PENN CENTRAL TRANSP. CO.

No. Bky 70-347.

476 F.Supp. 131 (1979)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re BEECH CREEK RAILROAD COMPANY. In re the CLEVELAND, CINCINNATI, CHICAGO AND ST. LOUIS RAILWAY COMPANY. In re the CLEVELAND & PITTSBURGH RAILROAD COMPANY. In re ERIE AND PITTSBURGH RAILROAD COMPANY. In re PENNDEL COMPANY, Secondary Debtors. In re PITTSBURGH, FORT WAYNE AND CHICAGO RAILWAY COMPANY. In re ALLOWANCES UNDER § 77(c)(2).

United States District Court, E. D. Pennsylvania.

August 9, 1979.


Attorney(s) appearing for the Case

Jerome K. Walsh, New York City, Robert W. Valimont, Doylestown and George W. Betz, Jr., Paul R. Duke, Robert W. Blanchette, Philadelphia, for plaintiff.


MEMORANDUM AND ORDER NOS. 3991, 156, 243, 184, 160, 182 and 175.

FULLAM, District Judge.

Section 77(c)(2) of the Bankruptcy Act authorizes the reorganization court to allow reasonable compensation to trustees.1 In the Penn Central case, the compensation of the Trustees was fixed annually at the beginning of the compensation year, and the Trustees were paid on a monthly basis. This approach was possible because the magnitude and...

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