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MATTER OF READING CO.

Nos. 82-1557, 82-1726.

711 F.2d 509 (1983)

In the Matter of READING COMPANY, Debtor. Appeal of TRAILER TRAIN COMPANY.

United States Court of Appeals, Third Circuit.

Decided June 16, 1983.

Attorney(s) appearing for the Case

William P. Quinn (argued), Nicholas J. Scafidi, Eric M. Hocky, Rubin, Quinn & Moss, Philadelphia, Pa., for appellant.

A. Grant Sprecher (argued), Howard H. Lewis, John J. Ehlinger, Jr., Joseph P. Kane, Obermayer, Rebmann, Maxwell & Hippel, Philadelphia, Pa., for appellee.

Before HUNTER and HIGGINBOTHAM, Circuit Judges, and GERRY, District Judge.

OPINION OF THE COURT

JAMES HUNTER, III, Circuit Judge:

Appellee Reading Company ("Reading") owns 500 shares of stock in appellant Trailer Train Company ("Trailer Train"). During Reading's reorganization proceedings under section 77 of the Bankruptcy Act of 1898 as amended ("the 1898 Act"), 11 U.S.C. § 205 (1976),1 Reading's trustees petitioned for an order compelling Trailer Train to repurchase the stock, convert it into...

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