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GIBBONS v. UNITED STATES

Nos. 79-2413, 80-1111, 80-1383, 80-1538.

660 F.2d 1227 (1981)

William M. GIBBONS, as Trustee of the Chicago, Rock Island and Pacific Railroad Company, et al., Petitioners, Chicago, Rock Island and Pacific Railroad Company, Intervening Petitioner, v. UNITED STATES of America and Interstate Commerce Commission, Respondents, National Transportation Authority, Party Respondent.

United States Court of Appeals, Seventh Circuit.

Decided October 7, 1981.

Attorney(s) appearing for the Case

Milton L. Fisher, Mayer, Brown & Platt, Nicholas G. Manos, Chicago, Ill., for petitioners.

Richard Allen, Interstate Commerce Commission, Washington, D. C., for respondents.

Before FAIRCHILD, Senior Circuit Judge, and SPRECHER and CUDAHY, Circuit Judges.

CUDAHY, Circuit Judge.

The demise of a failing railroad parallels that of a patient with an incurable disease. The one dimension in which this comparison is most inapt, however, is in the measure of value of the respective corpora approaching, at and following death. Human remains — however revered — are of slight economic value. Not so the residual property — real and personal — of a once vital railroad enterprise. In the case of failing...

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