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IN RE EMONS INDUSTRIES, INC.

Bankruptcy No. 84-B-10486(PBA).

50 B.R. 692 (1985)

In re EMONS INDUSTRIES, INC., Debtor.

United States Bankruptcy Court, S.D. New York.

July 5, 1985.

Attorney(s) appearing for the Case

Wachtell, Lipton, Rosen & Katz, New York City, for Official Creditors' Committee.

Saul, Ewing, Remick & Saul, New York City, for itself and on behalf of Equity Sec. Holders' Committee.

Nathan M. Fuchs, S.E.C., Levin & Weintraub & Crames, New York City, for debtor.

MEMORANDUM DECISION

PRUDENCE B. ABRAM, Bankruptcy Judge.

On March 30, 1984, Emons Industries, Inc. ("Emons") filed a petition under Chapter 11 of the Bankruptcy Code and has continued in possession as a debtor in possession. Emons is primarily engaged in the business of railcar leasing and, through its subsidiaries, operated two short line freight railroads and repairs railcars. Emons has been engaged in this business...

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