company Penn Central Transportation Company declared bankruptcy on June 21, 1970, two and a half years after its formation by the merger of the New York...

barely two years after formation, the largest bankruptcy in U.S. history at the time. The Penn Central's railroad assets were nationalized into Conrail...

and provided transitional operating funds following the 1970 bankruptcy of Penn Central Transportation Company. The law approved the "Final System Plan"...

impending PRR merger with New York Central Railroad merger was to have included CNJ, but the bankruptcy of Penn Central Transportation Company killed that...

Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States...

its former rival, the Pennsylvania Railroad, to form Penn Central. Penn Central went into bankruptcy in 1970 and, with extensive Federal government support...

Southern Railway eventually became part of CSX, and the PRR stake was given up during the bankruptcy of Penn Central. This purchase added a new connection...

Penn Central Transportation Co. v. New York City, 438 U.S. 104 (1978), was a landmark United States Supreme Court decision on compensation for regulatory...

power plant in Monroe, Michigan. However, the bankruptcy of Penn Central left Detroit Edison short of motive power and under capacitated coal hoppers...

merger and subsequent bankruptcy of Penn Central Transportation between 1968 and 1970, which became the largest corporate bankruptcy in the United States...

supermarket business. A series of financial troubles led to Penn Traffic's Chapter 11 bankruptcy filing in November 2009, and sale of assets to Tops Markets in...

with the Pennsylvania Railroad in 1968 to form Penn Central Railroad. The 1970 bankruptcy of Penn Central forced it to turn service over to the MTA, which...

Meanwhile, the bankruptcy of Penn Central led to the division of the railroad's physical plant between Amtrak, which inherited much of the electrified...

Penn Central. However, declining ridership and the Penn Central's June 1970 filing for bankruptcy reorganization were followed by further cuts. Westbound...

Chrysler's group vice president, was promoted to president. The bankruptcy of Penn Central in 1970 led to a run on Chrysler Financial's commercial paper...

Meanwhile, the bankruptcy of Penn Central led to the division of the railroad's physical plant between Amtrak, which inherited much of the electrified...

Following this, and the bankruptcy of Penn Central in 1970, the building was sold to Conrail. The Buncher Company then bought most of the lands, and sold...

terminal. Penn Station had been opened in 1910 by the Pennsylvania Railroad Company, but closed decades later after the bankruptcy of Penn Central. The tearing...

system, doomed the Penn Central and bankruptcy was declared a little over 2 years later, on June 21, 1970. Many of the Penn Central railroad assets ended...

ruled in favor of the city. After Penn Central went into bankruptcy in 1970, it retained title to Grand Central Terminal. When Penn Central reorganized as...

is an EMD GP38 built in 1969 for the Penn Central Railroad as number 7706. Following the bankruptcy of Penn Central, it was absorbed into Conrail in 1976...

converted into a Penn Central Railroad station upon the merger of NYC with Pennsylvania Railroad in 1968. Bankruptcy for Penn Central in 1970 forced them...

Haven was absorbed as well. Within just two years, the Penn Central became the largest bankruptcy in U.S. history to that time. Adversarial management teams...

a Penn Central station upon the merger between NYC and Pennsylvania Railroad in 1968, like many NYCRR stations in Putnam County. Bankruptcy for Penn Central...

Station) March 22, 1967: Central Railroad of New Jersey March 12, 1970: Boston and Maine Corporation June 21, 1970: Penn Central Transportation July 24...

three-quarters of the Pennsy's ton-miles. In 1968, the Pennsylvania Railroad merged with New York Central and the railroad eventually went by the name of Penn Central...

forming the Penn Central Transportation Company. Penn Central continued to lose money and attempted several maneuvers to delay bankruptcy, including auctioning...

established by a group of Central Pennsylvania investors. The Turf Club was awarded one of the licenses, and soon began construction on Penn National Race Course...

Pennsylvania (/ˌpɛnsɪlˈveɪniə/ PEN-sil-VAY-nee-ə, lit. 'Penn's forest country'), officially the Commonwealth of Pennsylvania (Pennsylvania Dutch: Pennsilfaani)...

Chapter 7 bankruptcy. The Penn Central Railroad sustained nearly $20 million in damages The resulting cost of repairing the damage was one of the factors...