The Special Court was created under the Regional Rail Reorganization Act of 1973 (signed January 2, 1974) for the purpose of adjudicating conflicting claims arising out of the act-mandated transfer of viable properties of six bankrupt railroad systems to a new government-funded entity to be called the Consolidated Rail Corporation (Conrail). The Special Court Reporter constitutes a step-by-step account of its proceedings and the playing out of the final stages of railroad reorganization in the Northeast, but it is heavily weighted towards procedural matters concerning what constitutes a fair valuation. It does not contain actual testimony or exhibits.