Legal Opinion
In the Matter of Reading Company, Debtor. Appeal of Cji Industries, Inc., Formerly Known as Central Jersey Industries, Inc
Court of Appeals for the Third Circuit
Decided January 29, 1988No. 87-1232PublishedCited by 5 opinions
1Opinion of the Court
OPINION OF THE COURT
STAPLETON, Circuit Judge:
This appeal requires us to consider the extent to which the presumption against setoffs in Section 77 railroad reorganizations, articulated in Baker v. Gold Seal Liquors, 417 U.S. 467, 94 S.Ct. 2504, 41 L.Ed.2d 243 (1974), is applicable to cases brought under the Regional Rail Reorganization Act of 1973, 45 U.S.C. § 701 et seq. (1982 & Supp. IV) (“Rail Act”). The district court concluded that the presumption does apply, but that countervailing eq uitable considerations in this particular Rail Act reorganization rendered appropriate a setoff of…
2Cases cited6 opinions
- Baker v. Gold Seal Liquors, Inc.Supreme Court of the United States · 1974
- Lowden v. Northwestern National Bank & Trust Co.Supreme Court of the United States · 1936
- In Re Penn Central Transportation Co.District Court, E.D. Pennsylvania · 1978
- In Re Central Railroad Co. of New JerseyDistrict Court, D. New Jersey · 1977
- In the Matter of Lehigh Valley Railroad Company, Debtor. Appeal of Citibank, N. A. (Formerly Known as First National City Bank), as Indenture Trustee of the Lehigh Valley Harbor Terminal Railway Company Mortgage Indenture, Dated February 1, 1924, as SupplementedCourt of Appeals for the First Circuit · 1977
1 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Reading Co. v. City of PhiladelphiaDistrict Court, E.D. Pennsylvania · 1993
- Dicello v. Boston & Maine Corp. (In Re Delaware & Hudson Railway Co.)United States Bankruptcy Court, D. Delaware · 1991
- Zulkowski v. Consolidated Rail Corp. (Appeal of Central Jersey Industries, Inc.)Court of Appeals for the Third Circuit · 1988
- Blackwood, Inc. v. Reading Blue Mt.Superior Court of Pennsylvania · 2015
- Stanley Zulkowski v. Consolidated Rail Corp.Court of Appeals for the Third Circuit · 1988