Council Bluffs bugle. [volume] (Council Bluffs, Iowa) 1860-1868, 1865-01-26


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The fsllsui1e i : s5nopsis 81 shs
Foposea Bankrup1 Law - il passsi sAs
If4ass o. Rssprsp ntAsivss. TAa Ssnats
my ks soma suimparsans shAngesI In
" prsgisisns hsa IL = the general i'm
preston In Washington sh.s the Senate
viii pass il jass a. IL same from The
Haussss 9
Section psosGass shas The several
Upised States Dis rics Courts shall be
courts of Bankruptcy, sish original jaris-
dicsioD IN their rsspective dlssfiess-
2. The Unised States Circuit Courts
shall hare gsnsFnl sapssinsandenes OF
qarssioas arising nader sI.is act.
5. The eircais 5adges shall appoint
registers 10 assist the district jadges.
/. Presoribes the powera AMI datissl
Of the register.
s. Anthorixss .shs district Judge TO
direct the register 10 attend 10 any psaes
within the disssies for shs faihllmsnk Of
the duties imposed By shls acs and to
exercise therein thn powers Of the court,
saving that Of commitment,
Q. Any party before register, "a
question arising, may obtain the decision
Of the district judge thereon.
T.. Parties shall assend before the
register Ia the same manner M under
writ of snhpmna and on reference by
the register Of any ,se OF reenanog to
tho district judge the latter shall lawfully
punish the person in contempt.
8. IL tho press of business renders II
necessary, The president mar appoins
assistant dissEics judges, sho shall sir In
bankruptcy only, and Nth like Powegs
therein as hediatsies judge.
Q. a similar prosision Is made tor a..
sissans circuit judge.
10. Appeals IN all cases Of equity,
and writs Of error In eases at Law when
the amount 10 at least $500, lie from the
dissrice to the Circuit courts.
IL. No appeal or writ OF error is 81.
loved from the Circuit to the United
States Supreme Court, unless the amount
exceeds $4,000, Or unless the Circuit
court eersi.ies the question at issue to be
OF sufficient Importance TO be decided In
the court OF last resort
IL. a justice OF the Supreme Court
and Ave commissioners shall frame gem
eral orders for regulating the prsctiee
and procedure under this act,
Is. ANY resident Of the United States,
owing at least $500, and unable TO pay,
may petition the judge OF the district
where be has carried on business for the
last six months, or for the longest eriesi
Of that time, setting forth under oath all
bis debts, their character, the names and
ahodes OF his creditors, an inventory of
his assets aud Of the property for which
be claims exemption, 10. The fling of
this petition 10 an act of bankruptcy.
/ warrant shall Issue TO the marshal 10
take DO session Of all the bankrupt's es-
tate not exempted By the state laws, and
TO hold the same until an assignee IS APP
pointed, and 70 give = prescribed notice
10 all parties concerned.
II. A meeting Of creditors to prove
aebts aud appoint assignces shall Do held
al court OF bankruptcy, not less than
ten nor more than ninety days afteT the
issuing Of the warrant, in which regis
ter shall preside.
Is. Al such meeting the creditors
shall prove their debts, and appoius as
signess by greater part in value OF those
proving. II they fail TO appoint, the
judges or register will do 50, and the
judge may disappFove or vaeate an APP
pointment By creditors, or order the as
signee TO give bond.
16. The Judge or register shall convey
to the assignee ali the baakrupt's estate
(exeeps such as is exempted by state Law
and the books and papers relating there
TO ; and the assignee shall thereon in point
OF las stand ia the original position, as
70 ownership, Of the bankrupt; and is,
furthermore, measurable protected from
suits against himself rs assignee.
IT. The assignee shall sell the bank.
rnps's unincumbexei estate, aad keep as-
counts thereof.
ID No action shall abats By ap-
peintmsnt or death Of the assignee.
l9. Attachments on bankrnpFs
property are dissolved by the decree OF
bankruptcy, unless the court thinks it adj
yissbls that the liens shall continue.
%. The assignee shall deposise and
keep eeperate the funds Of The esta1e, and
shall also xeep isolated from others all
goods and effects of the estate in bis
LANDS shall temporarily invest IL order
ed by shs curt shHll give notice OF
dividends, and ID various other thing Tor
lhe benefit Of the estate.
q. Provides for the removal OF as
signsea and appointment Of others.
q. AL liabilities Of the bankrupt at
the lime of the adjudication of bank
rupsey, whether presently or in future
payable, may be proysa sgainss the es-
tate.
q. In case Of mutual debts aud cred
its, the balance Seall only be alleved.
"a. No creditor proving his claim
shall sue therefor sud, With certain mod
ifcations, 10 provahle clsim shall be
sued on againss the bankrupt uAsil The
determination Of the court 10 ankrupsey
on the question of tbs discharge.
q. Creditors shall pfase, IN ! MAJ
ner prescribed, before the register where
they reside.
-. If before the election OF an assign
es the judge doubts tho validity. OF :
claim, he may postpone Its proof anti
after the election Ard any one accept.
preference wnich be has reason 10 shinl
was given soHsrafy 10 shia act, shall no
pYoge tina same.
q. Details the proceeding 20 be takss
By creditor appealing FROM the Dis
trict to tbs Circuit court. The hna
judgement OF the Circuit court shall b
conclusive
| ga dka aess~k vnav, ax1av aaxiahahle a,
disputed property 10 be sold.
/ 20. The Bankrupt may be brought il
and examined on oath as to matters con
oarning his estass and dealings. Hi
wife, and Other wisnesses 1aav be eoEn
PEELED TO attend aud testify. Daring thl
peadensy Of proceedings be shall. be ex
empt from arrest iH say civil action fEoa
Which his discharge and baaksupse.
would free him.
Il 10 ALI sreaitsxa .lalg nYosiu9 debt