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MATTER OF READING CO.

Bankruptcy No. 71-828.

24 B.R. 858 (1980)

In the Matter of READING COMPANY, Debtor.

United States District Court, E.D. Pennsylvania.

May 21, 1980.

Attorney(s) appearing for the Case

Howard H. Lewis, James A. Sox, John J. Ehlinger, Jr., Philadelphia, Pa., for trustees.

John H. Broadley, U.S. Dept. of Justice, Washington, D.C., John J. Degnan, Atty. Gen., Douglas G. Sanborn, Deputy Atty. Gen., State of N.J., Trenton, N.J., Prince Altee Thomas, Asst. Atty. Gen., Com. Pa., Philadelphia, Pa., Robert W. Blanchette, Clifford W. Losh, Washington, D.C., G. Clarke Cummings, New York City, Edward C. Toole, Jr., Robert L. Pratter, James E. Howard, Philadelphia, Pa., Lawrence Z. Shiekman, Pepper, Hamilton & Scheetz, Brian S. North, Consolidated Rail Corporation, Philadelphia, Pa., Harry G. Silleck, Jr., New York City, David Berger, Daniel Berger, Philadelphia, Pa., for defendants.

OPINION RE APPROVAL OF THE PLAN OF REORGANIZATION

DITTER, District Judge.

HISTORY OF THE READING RAILROAD REORGANIZATION

Once the largest corporation in the world, the power and financial base of the Reading Company has eroded steadily since the demand for rail as a form of passenger and freight transportation diminished. Reading's income fell short of its expenses and finally, on November 23, 1971, it filed for reorganization under section 77 of...

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