The Middlebury people's press. [volume] (Middlebury, Vt.) 1841-1843, 1841-09-14


district, TO be designated by such court, at least
twenty days before the hearing thereof; and all
persons interested may appear at the time and
place where the hearing is thus TO be had, and
show cause, If any they have, why the prayer
ofthe said petitioner should not be granted all
evidence TO be used in all hearings before such
court shall be under oath, or solemn affirmation
when the party is conscieniious!y scrupulous of
taking an oath, and may be oral or by deposit
ton taken before such court, or before any
commissioner appointed by such court. or be-
fore any disinterested Stale Judge of the State
in which the deposition is taken AMI all proof
Of debts or other claims, by creditors entitled to
prove the same by thi act. shall be under oath
or solemn affirmation as aforesaid, before such
court or commissioner appointed thereby, or before
some jisinterested State Judge of the State where
the creditors live, in such form as may be prescri
bed by the rules and regulations hereinbetore
authorized to be madeeand established by the
courts having jurisdiction in bankruptcy. But
all such proofs of debts and other claims shall be
open to condensation in the proper court having
Jurisdiction over the proceedings in the particular
case in bankruptcy; and as we'll the assignee as
the creditor shall have right To a trial by jury,
upon an issue 10 be directed by such court, 10
ascertain the validity and amount Of such debis
or other claims and the result therein, unless
new trial shall be granted, if in favor of the
claims. shall be evidence Of the validity and
amount OF such debts or other claims. Aud if
any person or persons shall falsely and coruptlY
answer, swear or affirm, in any hearing or on trial
OF any matter, or in any proceeding in such court
in bankruptcy, or before any commissioner. he
OF they shall De deemed guilty of perjury, and
punishable therefor in the manner and to the
extent provided by law for other cases.
Sec. s. And be IL further enacted, That the cir
cult court within and Tor the district where the
decree of bankruptcy is passed, shall have con-
current jurisdiction with the district cou,t of the
! same district of all suits at law and in equity
which may and shall be brought by any assignee
of the bankrupt against any person or persons
claiming an adverse interest, or by such person
against such assignee, touching any pfoperIy CT
rights Of property Of said bankrupt transferable
to, or vested in, such assignee; and no suit al
law or in equity shall, in any cAse, be maintaina-
bic by or against such assignee, or by or against
any person claiming an adverse interest, touching
the property and rights OF property aforesaid in
any court whatsoever, unless the same shall be
brought within two years after the declaration
and decree Of bankruptcy, or after the cause OF
! suit shall first have accrued.
Sec. 9. find be ii further enacted That all sales,
transfers, and other conveyances of the assignee,
of the bankrupt's property, rights Of property,
| shall be made at such times and in such manner
as stall be ordered and appointed by the court in
bankruptcy and all assets received by the as
signee in money shall, within sixty days after
wards be paid into the court, subject to its ORDER
respecting its future safe-keeping and disposition;
and the court may require ofsuch assignee bond
with at least two sureties, in such sum as il may
deem proper, conditioned for the due and faith
full discharge of all his duties, and his compliance
with the orders and directions of the court; which
bond shall be taken in the name of the United
I'LL e.
be sued and suable, under the order of such court
for the benefit of the creditors and o her persons
| in interest.
Sec. 10. find be IL further enacted, That in or
der to ensure speedy settlement and close Of the
proceedings in each case in bankruptcy, it shall
| be the duty of the court TO order and direct a
| collection Of the assets, and reduction of The
same to money, and distribution thereof, at as
early periods as practicable consistently with a
due regard TO the interests OF the creditors AMI
a dividend and distribution OF such assets as shall
be collected and reduced to money, OF so much
thereof as can be safely so disposed of, CONSIST
emily with the rig hts and interests of third per-
sons having adverse claims thereto, shall be made
among the creditors who have proved their debts,
as often as once III six months from The time OF
the decree declaring The bankruptcy; notice OF
such dividends and distribution to BE- given in
some newspaper or newspapers 10 the district, de-
|
order therefor is passed; and the tendency ofany
suit al law or in equity by or against such third
persons shall not postpone such division and dis
tribution except so far as the assets may be ne
cessary TO satisfy the same; and all proceedings
in bankruptcy in each case shall, if practicable,
be finally adjusted, settled and broUgI 10 close,
by The court, within two years after the decree
| declaring the bankruptcy. And where any cred
itor shall not have proved his debt until divi-
dend or distribution shall have been made and
declared, he shall be entitled 10 be paid the same
amount. pro rata, out of the remaining dividends
or distributions thereafter made. the her cred
itors have already received, befre the latter shall
be entitled to any portion thereof.
Sec. IL. find be IL further enacted, That the
assignee shall have full authority. by and under
the order and direction of the proper court in
bankruptcy, 10 redeem and discharge anv mort
gage or other pledge, or deposite, or lien upon
any property, real or personal, whether payable
10 present or at future day, and To tender due
performance of the conditions thereof. And such
assignee shall have authority, by and under the
order and direction of the proper court in bank
rupcv, to compound any debts, or other claims
or securities, due or belonging to The estate OF
the bankrupt bat no such order or direction shall
be made until notice of the application is gwen
in some public newspaper in the district, 10 be
designated by the court. len days at least before
The hearing, so that all creditors and other persons
in interest may appear and show cause, if any
they have, al the hearing, why the order or drec-
ton should not be passed.
! Sec. IL. .4ndbe IL further enacted Tha; il any
person who shall have been discharged under
this act shall afterwards become bankrupt, he
shall not again be entitled to discharge under
this act, unless his estate shall produce (aer all
charges) sufficient to pay every creditor seventy
five per cent on the amount OF the debt which
| -, L. L. IN creditor.
Sec. 49, And be il further enacted, That the
proceedings in all cases 10 bankruptcy shall be
deemed matters of record but the same shall not
In rocnrdad at larra hui Shall lie