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

No. 85-2729.

789 F.2d 1281 (1986)

In the Matter of CHICAGO, MILWAUKEE, ST. PAUL, AND PACIFIC RAILROAD COMPANY, Debtor. Appeal of CMC REAL ESTATE CORPORATION. Escanaba & Lake Superior Railroad Company, Appellee.

United States Court of Appeals, Seventh Circuit.

Decided May 8, 1986.

Attorney(s) appearing for the Case

Barry Sullivan, Jenner & Block, Chicago, Ill., for appellant.

Terrance M. Cullen, Felhaber, Larson, Fenlon & Vogt, St. Paul, Minn., for appellee.

Before BAUER, POSNER, and EASTERBROOK, Circuit Judges.

EASTERBROOK, Circuit Judge.

The bankrupt Chicago, Milwaukee, St. Paul & Pacific R.R. got out of the railroad business in February 1985, when it sold all of its rail assets to the Soo Line R.R. The Soo and other railroads bid for the rail assets of the Milwaukee as a bloc, and the district court ordered them sold on that basis. This caused problems because the Escanaba & Lake Superior R.R. held a right of first refusal to buy a line of track between Crivitz...

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