In the Matter of PENN CENTRAL TRANSPORTION COMPANY, Debtor.
Appeal of the BANK OF NEW YORK, as successor trustee under the New York Central and Hudson River Railroad Company Refunding and Improvement Mortgage dated October 1, 1913, in Nos. 78-1692, 78-1693, 78-1694, 78-2316, 78-2317 and 78-2318.
Appeal of the IRVING TRUST COMPANY, as Indenture Trustee, in Nos. 78-1698 and 78-2314.
Appeal of Harriet SIGNER, Seymour Gillman, Anne Frank and McMaster Holding Co., in No. 78-1716.
United States Court of Appeals, Third Circuit.https://leagle.com/images/logo.png
Argued October 16 and 17, 1978.
Decided January 11, 1979.
Attorney(s) appearing for the Case
J. Donald McLeod, Dahlberg, Mallender & Gawne, Detroit, Mich., for appellant Manufacturers Nat. Bank of Detroit, as Indenture.
Richard G. Elliott, Jr., Richards, Layton & Finger, Wilmington, Del., for appellant Wilmington Trust Co.
Emil T. Bayko, White & Case, New York City, for appellant Bankers Trust Co.
Mary Ellen Neylon, Tyler, Reynolds & Craig, Boston, Mass., for appellant Charles S. Jeffrey.
Cletus P. Lyman, Lyman & Ash, Philadelphia, Pa., for Joseph A. Schafer.
Larry M. Lavinsky, James J. Fuld, Philip M. Hahn, Gary B. Bettman, New York City, for appellant The Bank of New York, as Indenture Trustee; Proskauer, Rose, Goetz & Mendelsohn, New York City, of counsel.
Stephen A. Weiner, Winthrop, Stimson, Putnam & Roberts, F. Martin Bowne, Windels, Marx, Davies & Ives, New York City, for appellant Irving Trust Co., as Indenture Trustee.
Donald S. Reisman, Max Rothenberg, Hallandale, Fla., for appellants Harriet Signer, et al.
Charles A. Horsky, W. Crosby Roper, Jr., Brice M. Clagett, Washington, D. C., James E. Howard, John J. Ehlinger, Jr., Philadelphia, Pa., for the Trustees of Penn Cent. Transp. Co.; Covington & Burling, Philip R. Stansbury, Wesley S. Williams, Jr., Wynne M. Teel, Washington, D. C., Carl Helmetag, Jr., Philadelphia, Pa., of counsel.
Louis A. Craco, Willkie Farr & Gallagher, New York City, Frederic L. Ballard, Ballard, Spahr, Andrews & Ingersoll, Philadelphia, Pa., for Institutional Investors Penn Central Group; Walter H. Brown, Jr., Thomas L. Bryan, Michael B. Targoff, Richard L. Posen, New York City, Vincent P. Hatton, Philadelphia, Pa., of counsel.
George J. Wade, Shearman & Sterling, New York City, for Citibank, N.A., as Agent for the Committee of Secured Bank Creditors; Robert H. MacKinnon, Kenneth M. Kramer, New York City, of counsel.
Morris Raker, Sullivan & Worcester, Boston, Mass., for Richard Joyce Smith, Trustee of the Property of the New York, New Haven and Hartford Railroad Co., Debtor; Joseph Auerbach, Boston, Mass., of counsel.
Walter C. Kelley, Jr., Donald B. McCann, Margaret Anne Foster, Kelley, McCann & Livingstone, Cleveland, Ohio, for Board of Ed., Cleveland City School Dist.
Jerome K. Walsh, Richard M. Auerbach, Walsh & Frisch, New York City, for appellee George W. Betz, Jr., Trustee of the Property of the Cleveland, Cincinnati, Chicago and St. Louis Railway Co., Secondary Debtor.
Before ALDISERT, GIBBONS and HIGGINBOTHAM, Circuit Judges.
United States Court of Appeals, Third Circuit.
OPINION OF THE COURT
GIBBONS, Circuit Judge:
We deal in this opinion with appeals by two indenture trustees, representing four secured bond issues, from orders of the district court approving and confirming the Amended Plan of Reorganization of Penn Central Transportation Company (PCTC or the Debtor) and related debtors in reorganization under § 77 of the Bankruptcy Act, 11 U.S.C. § 205.
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