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IN RE LEHIGH VALLEY RAILROAD COMPANY

No. 70-432.

382 F.Supp. 871 (1974)

In the Matter of LEHIGH VALLEY RAILROAD COMPANY, Debtor. In re Proceedings for the REORGANIZATION OF A RAILROAD.

United States District Court, E. D. Pennsylvania.

July 24, 1974.

Attorney(s) appearing for the Case

Duane, Morris & Heckscher, by Williamson P. Donald, Philadelphia, Pa., for trustees, Lehigh Valley RR. Co.

Fox, Rothschild, O'Brien & Frankel by Howard R. Flaxman, Philadelphia, Pa., for First National City Bank of N. Y.

Ballard, Spahr, Andrews & Ingersoll by Richard L. Sherman, and Oliver C. Viddle, Philadelphia, Pa., for Girard Trust Bank and Chemical Bank.

Cravath, Swaine & Moore by Alan C. Stephenson, New York City, for Chemical Bank.

MEMORANDUM AND ORDER NO. 259

FULLAM, District Judge.

On March 2, 1973, the Trustees of the Debtor filed a petition (Document No. 525) seeking approval of a proposed sale of 34.34 acres of land in Buffalo, New York (together with former passenger station waiting room, two-story office building, freight house and meat platform thereon) for a cash price of $750,000. A hearing on that petition was held on March 23, 1973, and the transaction was approved, by...

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