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IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

328 F.Supp. 1279 (1971)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor (Order No. 266). In re PRE-PETITION BOND INTEREST.

United States District Court, E. D. Pennsylvania.

May 18, 1971.

Attorney(s) appearing for the Case

Marvin Comisky, Blank, Rome, Klaus & Comisky, Philadelphia, Pa., Michael A. Boyd, Davis, Polk & Wardwell, New York City, and Richardson Blair, Ballard, Spahr, Andrews & Ingersoll, Philadelphia, Pa., for Morgan Guaranty Trust Co.

Donald A. Scott, Morgan, Lewis & Bockius, Philadelphia, Pa., and Kelley, Drye, Warren, Clark, Carr & Ellis, New York City, for Manufacturers Hanover Trust Co.

Bruce W. Kauffman, Dilworth, Paxson, Kalish, Levy & Coleman, Philadelphia, Pa., for Irving Trust Co.

MEMORANDUM

FULLAM, District Judge.

Not all of the interest which accrued on Debtor's bonded indebtedness and was payable prior to the filing of its reorganization petition on June 21, 1970, has in fact been paid. Many bondholders failed to present their coupons for payment before that date. In some instances, the coupons were presented for payment, and checks had been issued by the Debtor, but the checks were not presented for payment until after bankruptcy...

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