IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

361 F.Supp. 645 (1973)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor.

United States District Court, E. D. Pennsylvania.

August 1, 1973.


Attorney(s) appearing for the Case

Robert W. Blanchette, James E. Howard and Carl Helmetag, Philadelphia, Pa., for trustees, Penn Central Trans. Co.

Sullivan & Worcester by Morris Raker, Boston, Mass., and Gratz, Tate, Spiegel, Ervin & Ruthrauff by Spencer Ervin, Jr., Philadelphia, Pa., for Richard Joyce Smith, trustee, New York, New Haven & Hartford RR Co.

Davis, Polk & Wardwell by Richard M. Berman, New York City, for Morgan Guaranty Trust Co. of New York, as indenture trustee.

Proskauer, Rose, Goetz & Mendelsohn by Howard N. Lefkowitz, New York City, for the Bank of New York.

James F. Dausch, Dept. of Justice, for the United States.

Fox, Rothschild, O'Brien & Frankel by Nochem S. Winnet, Philadelphia, Pa., for First National City Bank of New York.

Morgan, Lewis & Bockius by Peter L. Koury, Philadelphia, Pa., for The Fidelity Bank.


MEMORANDUM AND ORDER NO. 1288

FULLAM, District Judge.

The issue before the Court is whether the Trustees should be authorized to consummate a loan transaction, in the amount of $17,645,542 pursuant to the Emergency Rail Facilities Restoration Act (P.L. 92-591), upon the terms and conditions proposed by the Federal Railroad Administrator.

The Trustees were heretofore authorized, in Order No. 1232, to apply for such a loan, and were directed to report...

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