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Legal Opinion

In Re Penn Central Transportation Company

District Court, E.D. Pennsylvania

Decided May 10, 1972No. 70-347PublishedCited by 6 opinions

1Opinion of the Court

OPINION AND ORDER NO. 706

FULLAM, District Judge.

A petition (Document No. 1176) filed by the New York State Urban Develop ment Corp. (hereinafter “UDC”) involves one of several instances in which, before bankruptcy, the Debtor sold real estate, obtained and spent the proceeds, but failed to obtain releases of the property from the liens of various railroad mortgages. 1

In December of 1969, the Debtor conveyed to UDC, by quitclaim deed, a large tract of land in Niagara Falls, New York. The property was subject to three railroad mortgages, which will be referred to herein as the Hudson River…

2Cases cited9 opinions

  1. Katchen v. LandySupreme Court of the United States · 1966
  2. In Re Solar Manufacturing CorporationCourt of Appeals for the Third Circuit · 1952
  3. In The Matter Of The Central Railroad Company Of New JerseyCourt of Appeals for the Third Circuit · 1970
  4. In re Penn Central Transportation Co.Court of Appeals for the Third Circuit · 1971
  5. In the Matter of Lehigh Valley Railroad Company, Debtor. Appeal of Raymond J. LambCourt of Appeals for the Third Circuit · 1972

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3Cited by6 opinions

  1. In Re Penn Central Transportation Co.District Court, E.D. Pennsylvania · 1978
  2. In re Penn Central Transportation Co.Court of Appeals for the Third Circuit · 1972
  3. In the Matter of Penn Central Transportation Company, Debtor. Appeal of Manufacturers Hanover Trust Company, as Indenture Trustee, in No. 72-1497. Appeal of Bankers Trust Company, as Indenture Trustee, in No. 72-1498. Appeal of Girard Trust Bank, Indenture Trustee Under the Pennsylvania General Mortgage Dated June 1, 1915 and Morgan Guaranty Trust Company of New York, Indenture Trustee Under the New York Central and Hudson River Railroad Company Refunding & Improvement Mortgage Dated October 1, 1913, InCourt of Appeals for the Third Circuit · 1972
  4. Elton, Inc. v. United States, Farmers Home Administration (In re Boswell Land & Livestock, Inc.)District Court, D. Utah · 1988
  5. In re Penn Central Transportation Co.District Court, E.D. Pennsylvania · 1975

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