In the Matter of READING COMPANY, Debtor.
Re: Trustees' Petition for Approval of Memorandum of Understanding for SEPTA's Operation of Debtor's Passenger Service.
United States District Court, E. D. Pennsylvania.https://leagle.com/images/logo.png
June 7, 1973.
June 7, 1973.
Attorney(s) appearing for the Case
Lockwood W. Fogg, Jr., Philadelphia, Pa., for Reading Co., Debtor.
Obermayer, Rebmann, Maxwell & Hippel by Herbert A. Fogel, Philadelphia, Pa., for Trustees Richardson Dilworth and Andrew L. Lewis, Jr.
Cadwalader, Wickersham & Taft by William J. Moss, Daniel T. Brooks, New York City, for Institutional Investers Reading Group.
Kelley, Drye, Warren, Clark, Carr & Ellis by Edward Roberts, III, and H. Thomas Davis, New York City, for Manufacturers Hanover Trust Co., as Indenture Trustee.
James F. Dausch, U. S. Dept. of Justice, Washington, D. C., for the U. S.
Richter, Syken & Ross by Kenneth Steen, Robert M. Ross, Philadelphia, Pa., for Leo Ward and Charles Stricker.
Ballard, Spahr, Andrews & Ingersoll by Charles I. Thompson, Jr., Philadelphia, Pa., for The North Pennsylvania Railroad Co., Philadelphia, Germantown & Norristown Railroad Co.
Meyer, Lasch & Hankin & Poul by Herman B. Poul, Philadelphia, Pa., for System Federation # 109.
Kleinbard, Bell & Brecker by George A. Burnstein, Philadelphia, Pa., for Brotherhood of Maintenance of Way Employees and Brotherhood of Railway, Airline and Steamship Clerks, Freight Handlers, Express and Station Employees.
Mulholland, Hickey & Lyman by Geoffrey N. Zeh, Washington, D. C., for Railway Labor Executives' Association
United States District Court, E. D. Pennsylvania.
OPINION AND ORDER NO. 414
DITTER, District Judge.
The Reading Company, a bankrupt railroad, has consistently lost money on commuter operations since 1945. By the petition now before the Court, the railroad's trustees have submitted for approval the broad outlines of a plan by which a public authority would assume responsibility for the passenger services and the railroad would turn over to the authority certain valuable properties.
The principal...
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