MATTER OF IOWA R. CO.

Nos. 86-2760 & 87-1082.

840 F.2d 535 (1988)

In the Matter of IOWA RAILROAD COMPANY, Debtor. UNION PACIFIC RAILROAD COMPANY, et al., Plaintiffs-Appellees, v. Terry F. MORITZ, Trustee of Iowa Railroad Company, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided February 23, 1988.

Rehearing and Rehearing Denied March 18, 1988.


Attorney(s) appearing for the Case

Terry F. Moritz, Joanne M. Harmon, Goldberg, Kohn, Bell, Black, Rosenbloom & Moritz, Ltd., Chicago, Ill., for defendant-appellant.

James D. Benak, Omaha, Neb., for plaintiffs-appellees.

Before EASTERBROOK and RIPPLE, Circuit Judges, and GRANT, Senior District Judge.


Rehearing and Rehearing En Banc Denied March 18, 1988.

EASTERBROOK, Circuit Judge.

The Iowa Railroad endured from October 1981 to November 1984. During these years it conducted operations, largely with rented equipment, over 511 miles of other lines' track. Much of its business involved freight handled by two or more carriers. When the Iowa was the first carrier — for example, when picking up a shipment of grain that it would turn over to the Union...

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