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Bondholders Clash Over New Haven Sale Plan At ICC Hearing
Chicago broker R Marshall Barnes told an Interstate Commerce Commission hearing that bondholders owning more than 10 percent of New Haven bonds seek a vote on any reorganization or sale. He says Penn Central could gain about 190 million in windfall from the sale, while trustees push a plan valued with Penn-Central stock and cash. Bondholders oppose rushed action and seek input before hearings set to resume in New York next month.
MENTIONED IN THIS ARTICLE
Washington
Chicago
New Haven
R. Marshall Barnes
Interstate Commerce Commission
Barnes
ICC
Pennsylvania-New York Central
Arthur
New York
Joseph Auerbach
Penn Central
Pennsylvania
New York Central
Justice Department
Connecticut
Massachusetts
Rhode Island
Penn-Central
Ter
Auerbach