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MTR OF PENN CENT (CONRAIL)

56 N.Y.2d 120 (1982)

In the Matter of the Arbitration between Penn Central Corporation et al., Respondents, and Consolidated Rail Corporation, Appellant.

Court of Appeals of the State of New York.

Decided May 20, 1982.

Attorney(s) appearing for the Case

Stephen E. Powers and Mary Jo Reich for appellant.

Louis A. Craco, Robert J. Kheel and Sally Cohen Swift for respondents.

Chief Judge COOKE and Judges JASEN, GABRIELLI, JONES, FUCHSBERG and MEYER concur.

WACHTLER, J.

Petitioner Penn Central Corporation commenced this proceeding to confirm a determination of three appraisers made pursuant to an agreement between petitioner and Consolidated Rail Corporation (Conrail). The trial court dismissed the petition on the ground that the court lacked the power to confirm an appraisal. The Appellate Division reversed and confirmed the determination holding that, although...

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