MATTER OF BOSTON AND MAINE CORP.

No. 70-250-M.

46 B.R. 930 (1983)

In the Matter of BOSTON AND MAINE CORPORATION, Debtor.

United States District Court, D. Massachusetts.

February 23, 1983.


Attorney(s) appearing for the Case

Charles W. Mulcahy, Jr., and Robert M. Gargill, Paul M. Stein and Richard L. Wulsin, Choate, Hall & Stewart, Boston, Mass., for trustees of debtor.

James E. Howard and Kathleen D. Hendrickson, Kirkpatrick, Lockhart, Johnson & Hutchinson, Pittsburgh, Pa., and James D. St. Clair, Harold Hestnes, and Nancy D. Israel, Hale & Dorr, Boston, Mass., for Guilford Transp. Industries, Inc.

Joseph H.B. Edwards, Bingham, Dana & Gould, Boston, Mass., for First Mortgage Trustees.

Joseph D.S. Hinkley and Linda D. Chase, Peabody & Arnold, Boston, Mass., for Second Mortgage Trustees.

Philip W. Burling, Foley, Hoag & Eliot, Boston, Mass., for Group of Institutional Bondholders.

Edward T. Robinson, Gaston Snow & Ely Bartlett, Boston, Mass., for Madison Fund.

Jane A. Restani, Civ. Div., U.S. Dept. of Justice, G. Joseph King, Federal Railroad Admin., U.S. Dept. of Transp. and John J. McCarthy, Jr., I.C.C., Washington, D.C., for the U.S.

William C. Hennessy, New York State Dept. of Transp. and James A. Arpante and Henry A. DeCostis, Office of Atty. Gen., Albany, N.Y., for the State of N.Y.

Vincent Losinno, Executive Office of Transp. and Construction, Comm. of Mass., Boston, Mass., for the Comm. of Mass.

John T. Collins, Sherburne, Powers & Needham, Boston, Mass., for Vermont and Massachusetts R. Co., Chesapeake and Ohio Ry. Co., Baltimore and Ohio R. Co., Western Maryland Ry. and Maine-New Hampshire Interstate Bridge Authority.

Charles H. White, Jr., Arnall, Golden & Gregory, Washington, D.C., for Canadian Pacific Ltd.

Joseph F. Ryan, Lyne, Woodworth & Evarts, Boston, Mass., and John L. Richardson, Verner, Liipfert, Bernhard & McPherson, Washington, D.C., for Providence and Worcester R. Co.

Rogers & Wells, New York City, for Committee of Interline Railroads.

Stanley M. Poster and Ellen L. Poster, Boston, Mass., for Penn Cent. Corp.

Joseph F. Ryan, Steven B. Levine, Robert E. Brooks and Hirsh Freed, Brown, Rudnick, Freed & Gesmer, Boston, Mass., for City of Cambridge, Mass.

Lance R. Pomerantz, Law Dept., Boston, Mass., for City of Boston, Mass.

Bruce H. Tobey, Office of Gen. Counsel, Gloucester, Mass., for City of Gloucester, Mass.

Charles H. Morang, Office of City Atty., Keene, N.H., for City of Keene, N.H.


OPINION

FRANK J. MURRAY, Senior District Judge.

The Trustees of the Debtor in reorganization, the Boston and Maine Corporation ("B & M"), filed with the Interstate Commerce Commission ("Commission") in December 1975 their plan of reorganization, and subsequently amended the plan on December 29, 1980, again on July 15, 1981 and finally on March 3, 1982. The Commission on April 23, 1982 approved the plan as finally amended (the "Amended Plan") finding...

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