DocketNumber: No. 63-75
Citation Numbers: 212 Ct. Cl. 550
Judges: Bennett, Cowen, Kunzig
Filed Date: 11/19/1976
Status: Precedential
Modified Date: 11/23/2022
“The case again
“What plaintiff seeks is less clear. The merits concern the rights of holders of bonds issued by Morris and Esses Railroad Company and secured by a first lien on the property of the Erie-Lackawanna Railroad Company (Erie) to immediate redress in this court for alleged Fifth Amendment takings. The Erie is presently in reorganization and subject to the Regional Rail Reorganization Act of 1973 (Rail Act), 45 U.S.C. § 701 et seq., as amended by Railroad Revitalization and Regulatory Reform Act of 1976 (RRRRA), P.L. 91-210 (Feb. 5, 1976).
“Plaintiff-bondholder originally sought compensation, in the form of payment of the face amount of bonds plus interest, for both forced conveyance of Erie assets to ConRail and erosion of these assets because of continued forced, deficit operations. In his final brief, however, plaintiff seems to have given up claim to the erosion taking and concentrates instead on the conveyance taking.
“it is therefore ordered, upon consideration of the briefs and without oral argument, that plaintiff’s and defendant’s motions for summary judgment are denied. Defendant’s alternative motion for an indefinite stay of proceedings is granted.
“it is further ordered that, six months from the date of this order, plaintiff’s attorney inform the court by letter to the Clerk of the status of proceedings before the Special Court concerning the Erie-Lackawanna Railroad Company.”
On February 4,1977 the court denied plaintiff’s suggestion for rehearing enbanc and motion for rehearing.
On March i2, 1976, the court denied plaintiff’s request for prompt review of a trial Judge’s order. Order of March 12, 1976. Ct. Cl. No. 63-75.