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MATTER OF CHICAGO, MILWAUKEE, ST. PAUL AND PACIFIC RAILROAD COMPANY

Nos. 85-1554, 85-1683, 85-2121 to 85-2123, 85-1573 and 85-1953.

799 F.2d 317 (1986)

In the Matter of CHICAGO, MILWAUKEE, ST. PAUL AND PACIFIC RAILROAD COMPANY, Debtor, Appeals of RAILWAY LABOR EXECUTIVES' ASSOCIATION, C.M.C. Real Estate Corporation, Chicago, Milwaukee, St. Paul and Pacific Railroad Company, Seaboard System Railroad, Inc. SEABOARD SYSTEM RAILROAD, INC., and Railway Labor Executives' Association, Petitioners, v. UNITED STATES of America and Interstate Commerce Commission, Respondents.

United States Court of Appeals, Seventh Circuit.

Decided August 20, 1986.

Rehearing and Rehearing Denied October 20, 1986.

Attorney(s) appearing for the Case

John O'B. Clarke, Highsaw & Mahoney, John Will Ongman, Pepper Hamilton & Scheetz, Washington, D.C., for petitioners.

Marvin F. Metge, Gorham Metge Bowman & Hourigan, Daniel R. Murray, Jenner & Block, Chicago, Ill., Allen E. Kleinburd, Dept. of Justice, Charles A. Stark, I.C.C., Washington, D.C., for respondents.

Before WOOD, Jr., and EASTERBROOK, Circuit Judges, and BARKER, District Judge.

Rehearing and Rehearing En Banc Denied in No. 85-1683 October 20, 1986.

EASTERBROOK, Circuit Judge.

The Soo Line R.R. bought the railroad operations of the bankrupt Chicago, Milwaukee, St. Paul & Pacific R.R. in February 1985 for $150 million plus the assumption of liabilities estimated at $420 million. The district court approved the Soo's bid even though the Chicago & North Western Transportation Co. (CNW) bid $360 million plus assumption of essentially...

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