The tri-weekly standard. [volume] (Raleigh, N.C.) 1866-1868, 1867-04-18
THE BANKRUPT LAW.
TPrBLIC-No. OIL

[PUBLIC-No. 81.
An ACT to establish uniform system of bank
ruptcy throughout the United States.
B. it enacted By the Senate and House Of Repressn-
tdtipeS Of the United States Of imCrica in Congress
assembled, That the several district courts OF the
United States be, and they hereby are, cOnstitu-
ted courts of bankruptcy, and they shall have
original jurisdiction in their respective districts
in all matters and proceedings in bankruptcy,
and they are hereby authorized to hear and adJu-
dicate upon the same according TO the provisions
of this act. The said courts shall be always open
for the transaction of business under this act,
and the powers and jurisdiction hereby grtnted
and conferred shall be exercised as we'll in vaca-
tiOn in term time, and Judge sitting at cham
bers shall have the same powers and jurisdiction,
including the power of keeping order and of pun
ishing any contempt of his authority, as when
sitting in court. And the jurisdiction hereby
conferred shall extend to all cases and cOntrO-
versies arising between the bankrupt and any
creditor creditors who shall claim any debt or
demand under the bankruptcy; to the collection
of all the assets of the bankrupt; to the ascer
tainment and liquidation of the liens and other
specific claims thereon: to the adjustment of
the various priori;ies and conflicting interests of
all parties; and to the marshaling and DISPOSE
tion of the different funds and assets, SO to
cure the rights of all parties and due dstribu-
tion of the asses among all the creditors; and
to all acts, matters, and things to be done under
and in virtue of the bankruptcy, until The final
distribution and settlement of the estate of the
bankrupt, aud the close of the proceedings in
bankruptcy. The said courts shall have full al
thority to compel obedience 10 all orders and de-
/ crees passed by them in bankruptcy, by process
OF contempt and other remedial process, to the
same extent that the circuit courts now have in
any suit pending therein in equity. Said courts
may sit for the transaction of business in bank
ruptcy at any place in the district of which place
and the time of holding court they shall have
given notice, as we'll at the places designated by
law for holding such courts.
SEC I,IE Ii FIs,o. Nl>o4.
raj circuit courts of the United States within and
for the districts where the proceedings in bank
ruptcy shall be pending, shall have Il general SUI
n perintendence and jurisdiction Of all cases and
81 questions arising under this act and, except
~ when SPECIAL provision is otherwise made NAV
upon bill, petition, or other proper process Of
n any party agSrievcd, hear and determine the case
as a court OF equity. The powers and iurisdic-
ton hereby granted may be exercised either bv
said court or by any justice thereof in term time
or vacation. Said circuit courts shall also have
y concurrent jurisdiction with the district courts
OF the same district of all suits at law or in cuui
ty which may or shall be brought by the assipnee
IN bankruptcy against any person claiming an
adverse interest, or by such person against such
assignee, touching any property orrights of prop
ery OF said bankrupt transferable to or vested in
such assignee; but no suit at law or in ecuity shall
IN any case De maintainable by oragainst such as
slSnee or by or against any person claiming an
adverse interest touching the property and rights
OF property aforesaid, in anv court Whatsoryer
unless the shall be brouuht v,+hio t,~o !
years from the time the cause of action accrued
ior or against such assignee: PoUided That moth.
ing herein contained shall revive right of action
barred at the time such assignee is appointed
OF THE ADMINISTRATION OF THE LAW IN COURTS
OF BANKRUPTCY
SEC. 3. And be it further enacted. That if sbou
be the duty of the judges of the district cours of
lne United States, within and for the several dis
!rlcts, to appoint in each Congressional district
m Saia districts, upon the nomination and recon-
mehaaton OF the Chief Justice Of the Sunreme
Gourl ol the United States, one or more registers
Al oahkfuptcy, to assist the Judge OF the district
oot IN inc performance OF his duties under this
mrnt person Shall be eligible to such appoint
nf IN unless he be counsellor of said r6rrt nr
=; ~ so.ne ' one OF the courts of record of tha Sft
dnti. .iiIn 81 nc resides Before entering unon the
register in ha, "lnce, every person SO appointed
IIH;ta5 ~ W. bankruptcy shall give a bapI 70 th
IN DHi.e9 states with condition that b uii, '3 .e
not les thr e the duties of his office. in q snm
said court WIFI Hhe thousand dollars, to be fixed bv
OF 10 elther OF the said iusticeS slu court,
nrasnIndP H. "PGn court take and subscribe th oo4 ne
On oath Of nn; oe act entitled ''An act to nrcscrhn
all oaIn VI once, and for other nn ~ n cscIlpe
proved July second, eighteen - PURPOSES, ap-
Two, ana also that he will not dnrin| ald sixty
uance IN ofee be- directly rindircr5rr ms % rontin-
ed In or benefited by tile fees nr Wy, Wy, interest
arising from any suit OF matter nend; loiuinents
Tuptcy, in either the district or circnif oank-
his district court IN I
Sec. 4. And be it further enacted Tno+
ffegister f5 IN bankruptcy, appointed and oraiy
snail have power, and it shall be his ,ufv 70
snrse adJudieation of bankruptcy to receive the
ufTender in aIG amy bankrup6, to administer oabs
at ptoeeedings before him, to hold and preside
mole III OF creditors, to take proof of debts. to
,Se ders of an computations of dividends, and all or
With ol distribution, and to furnish the assignee
schedpIes nt copy of such orders, and Of the
case to audit and pass aecounfs nIsets @ nea IN each
anv bapltrt 10 pass the last examination of
credtor dp IN IN cases whenever the assignee or
1i'of 10 not oppose, and to sit in Chambers