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IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

361 F.Supp. 615 (1973)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. Re LEASE OF CERTAIN LOCOMOTIVES.

United States District Court, E. D. Pennsylvania.

July 24, 1973.

Attorney(s) appearing for the Case

Richard A. Walkovets, Carl Helmetag, Jr., Philadelphia, Pa., for trustees, Penn Central Transportation Co.

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

Richardson Blair, Ballard, Spahr, Andrews & Ingersoll, Philadelphia, Pa., for Girard Trust Bank, Bank of New York, Irving Trust, and Morgan Guaranty Trust.

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

MEMORANDUM AND ORDER NO. 1282

FULLAM, District Judge.

On June 14, 1973, the Trustees filed a petition (Document No. 5828) seeking authority to lease 45 locomotives. Thereafter, on June 20, 1973, the Trustees amended their petition to increase the number of locomotives to 78 (Document No. 5864). A hearing was held on June 27, 1973, at which certain creditor interests expressed opposition to the proposed acquisitions.

The relevant considerations are...

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