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MATTER OF PENN CENTRAL TRANSP. CO.

No. 70-347.

450 F.Supp. 78 (1978)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re CLAIMS OF SHAWMUT BANK OF BOSTON, N. A. as Trustee under Indenture of Equitable Charge.

United States District Court, E. D. Pennsylvania.

March 22, 1978.

Attorney(s) appearing for the Case

Edwin K. Taylor, Philadelphia, Pa., for Penn Central Transp. Co., Trustees.

Arthur P. Schmidt, Gaston, Snow & Ely Bartlett, Boston, Mass., for Shawmut Bank of Boston, N. A., Charge Trustee.

David H. Wice, Fox, Rothschild, O'Brien & Frankle, Philadelphia, Pa., Benjamin H. Lacy, Hill & Barlow, Boston, Mass., for Boston and Providence Reorganization Managers.

Armistead B. Rood, Boston, Mass., for R.R. Development Group.

Spencer Ervin, Jr., Gratz, Tate, Spiegel, Ervin & Ruthrauff, Philadelphia, Pa., for New Haven Trustee.

MEMORANDUM AND ORDER NO. 3470

FULLAM, District Judge.

The Boston & Providence Railroad Corporation ("B & P") was in reorganization under § 77 of the Bankruptcy Act for more than 30 years. A key ingredient of the ultimate termination of those reorganization proceedings was the purchase of all of the remaining B & P properties by the Penn Central Trustees on April 20, 1971, as authorized by Order No. 215 in these proceedings. The assets purchased...

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