In re Penn Central Transportation Co.

MEMORANDUM AND ORDER NO. 2921 AND 2922

FULLAM, District Judge.

The Trustees of the Debtor have filed a proposed Plan of Reorganization. A major aspect of the Plan is the treatment accorded the very large highest priority administration claims of the United States. After extensive discussions, the United States and the Trustees agreed to a method for treating the Government’s claims which adéquately protects the interest of the United States, and also permits the Trustees to propose a plan now, rather than some undetermined number of years in the future. A condition of the agreement is that the…