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IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

351 F.Supp. 1352 (1972)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re Proposed Settlement Concerning PENN CENTRAL INTERNATIONAL N.V.

United States District Court, E. D. Pennsylvania.

November 10, 1972.

Attorney(s) appearing for the Case

John Wallace, Philadelphia, Pa., for Trustees.

Spencer Ervin, Jr., Gratz, Tate, Spiegel, Ervin & Ruthrauff, Philadelphia, Pa., for Richard Joyce Smith, Trustees, New York, New Haven & Hartford RR.

Alan Fellheimer, Philadelphia, Pa., Ballard, Spahr, Andrews & Ingersoll, Liaison counsel for Penn Central indenture trustees.

MEMORANDUM OPINION AND ORDER NO. 1011

FULLAM, District Judge.

The Trustees of the Debtor have filed a petition (Document No. 3918) seeking approval of a settlement agreement under which the rights and obligations of the Debtor and various other parties to an intricate pre-bankruptcy financial arrangement would be reshuffled. The issue before the Court is whether the proposed settlement would be beneficial to the Debtor's estate and its reorganization. At...

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