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MAYTAG CORP. v. NAVISTAR INTERN. TRANSP. CORP.

No. 99-4328.

219 F.3d 587 (2000)

MAYTAG CORPORATION, Applicant-Appellee, v. NAVISTAR INTERNATIONAL TRANSPORTATION CORP., et al., Respondents-Appellants.

United States Court of Appeals, Seventh Circuit.

Decided June 27, 2000.

Attorney(s) appearing for the Case

Jennifer P. Kotler. Cary R. Perlman (argued), Latham & Watkins, Robert M. Baratta, Jr., Freeborn & Peters, Roberta M. Saielli, Gardner, Carton & Douglas, Chicago, IL, for appellants.

Constantine L. Trela (argued), John M. Heyde, Sidley & Austin, Chicago, IL, for appellee.

Before EASTERBROOK, DIANE P. WOOD, and EVANS, Circuit Judges.

EASTERBROOK, Circuit Judge.

Twenty years ago the storied Rock Island Line, losing about $40 million annually, abandoned its railroad operations as part of a bankruptcy under § 77 of the Bankruptcy Act of 1898. See Chicago, Rock Island & Pacific R.R., 363 I.C.C. 150 (1980). Free of its cash sinkhole, the Rock Island retired its debts and emerged from bankruptcy in 1984 as the Chicago Pacific Corporation, a holding company with more than $350 million...

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