Legal Opinion
Boston and Maine Corporation v. Chicago Pacific Corporation
Court of Appeals for the Seventh Circuit
Decided March 7, 1986No. 85-1576PublishedCited by 88 opinions
1Opinion of the Court
EASTERBROOK, Circuit Judge.
The Boston & Maine Railroad entered bankruptcy proceedings in 1970. On the day of its bankruptcy it owed about $180,-000 to the Chicago, Rock Island, and Pacific Railroad for interline balances. (We use rounded numbers throughout, taking the figures agreed to after negotiation.).
Interline balances are the net amounts due from one railroad to another for mutual transactions. For example, one railroad may use another’s cars, and it must pay a daily rate. Railroads also collect revenues for multi-line movements, and they must remit portions to others for their parts of…
2Cases cited16 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- Federated Department Stores, Inc. v. MoitieSupreme Court of the United States · 1981
- Katchen v. LandySupreme Court of the United States · 1966
- Thompson v. Magnolia Petroleum Co.Supreme Court of the United States · 1940
- Baker v. Gold Seal Liquors, Inc.Supreme Court of the United States · 1974
11 more not listed; retrieve them via the Exa API.
3Cited by88 opinions
- Bonded Financial Services, Inc., Debtor-Appellant v. European American BankCourt of Appeals for the Seventh Circuit · 1988
- In the Matter of JAMES WILSON ASSOCIATES, Debtor. Appeals of METROPOLITAN LIFE INSURANCE COMPANYCourt of Appeals for the Seventh Circuit · 1992
- Louis W. Levit, Trustee of V.N. Deprizio Construction Co. v. Ingersoll Rand Financial CorporationCourt of Appeals for the Seventh Circuit · 1989
- In the Matter Of: Unr Industries, Inc., Debtors. Appeals of Unarco Bloomington Factory WorkersCourt of Appeals for the Seventh Circuit · 1994
- In the Matter of American Reserve Corporation, Debtor. Appeal of Clear and Doris Elaine HuddlestonCourt of Appeals for the Seventh Circuit · 1988
83 more not listed; retrieve them via the Exa API.