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CHICAGO AND NORTH WESTERN TRANSP. CO. v. U. S.

No. 81-2195.

678 F.2d 665 (1982)

CHICAGO AND NORTH WESTERN TRANSPORTATION COMPANY, Petitioner, v. UNITED STATES of America and Interstate Commerce Commission, Respondents.

United States Court of Appeals, Seventh Circuit.

Decided April 26, 1982.

Attorney(s) appearing for the Case

Christopher A. Mills, Chicago, Ill., for petitioner.

John J. McCarthy, Jr., I. C. C., Washington, D. C., for respondents.

Before BAUER and POSNER, Circuit Judges, and BARTELS, Senior District Judge.

POSNER, Circuit Judge.

This case of first impression under the 1980 Staggers Rail Act amendments to 49 U.S.C. § 10905 requires us to decide both statutory and constitutional questions relating to the meaning of the term "fair market value" applied to an abandoned railroad line.

Within ten days after the Interstate Commerce Commission announces its decision to allow a railroad to abandon a line, any person may offer to purchase the line, 49 U.S.C. §...

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