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IN RE PENN CENTRAL TRANSPORTATION CO.

No. 70-347.

392 F.Supp. 960 (1975)

In the Matter of PENN CENTRAL TRANSPORTATION CO., Debtor.

United States District Court, E. D. Pennsylvania.

April 23, 1975.

Attorney(s) appearing for the Case

Carl Helmetag, Jr., Philadelphia, Pa., for trustees, PCTC.

Alan C. Kauffman, Obermayer, Rebmann, Maxwell & Hippel, Philadelphia, Pa., for Peoria & Eastern.

Wilbur Bourne Ruthrauff, Gratz, Tate, Spiegel, Ervin & Ruthrauff, Philadelphia, Pa., for Richard Joyce Smith, trustee, New York, New Haven & Hartford RR Co.

MEMORANDUM AND ORDER NO. 1855

FULLAM, District Judge.

The Peoria & Eastern Railway Company (hereinafter referred to as the "Peoria") has petitioned to impress a trust upon the assets of the Debtor. The Peoria is a non-operating railroad owning a single line in Indiana and Illinois. The Peoria's properties have been operated by the Debtor since February 1, 1968, pursuant to an operating agreement under which the Debtor pays the expenses of operation and...

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