Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1867-03-20

ubO5e; or, II 6ucn deOlor cauuot W iouuu, VI
his place of residence ascertained, service
shall be made by publication, in such manner
as the Judge may direct. No further proceed.
ings, unless the debtor appear and consent
thereto, shall be had until proof shall have
been given, to the satisfaction of the court,
of such service or publication; and if such
proof be not given on the return day of such
order, the proceedings shall be adjourned,
and an order made that the notice be forth
with SO served or published.
SEC. Al. And be it further enacted, That
on such return day or adjourned day, 1t the
notice has been duly served or published, or
shall be waived by the appearance and con-
sent of tie debtor, the court shall proceed
summarily to hear the allegations of the pc
titiorer and debtor, and may adjourn the
proceedings from time to time, on good cause
shown, and shall, if the debtor on the same
day so demand in writing, order trial by
Jury at the first term of the court at which
Jury shall be in attendance, to ascertain the
fact of such alleged bankruptcy; and ii, upon
such hearing or trial, the debtor proves to the
satisfaction of the court or of the jury, as the
case may be, that the facts set forth III the
petition are not true, or that the debtor has
paid and satisfied all liens upon his property,
in case the existence of such liens were the
sole ground of the proceeding, the proceedings
shall be dismissed and the respondent shall
recover his costs.
SEC. AZ. And be it further enacted, That
If the fact set forth in the petition are found
to be true, or if default be made by the debtor
10 appear pursuant to the order, upon due
proof Of service thereof being made, the court
Shall adjudge the deotor to be bankrupt,
and, as such subject to the provisions Of this
Act, and shall forthwith issue a warrant to
take possession of the estate Of the debtor.
The warrant shall be directed, and the prop
erty of the debtor shall be taken thereon, d
shall be assigned and distributed in the same
manner and with similar proceedings TO those
bereinbefore provided for the taking posses
sion, assignment and distribution Of theprop-
erty Of the debtor upon his own petition. Tho
order of adjudication Of bankruptcy shall re-
uuire the bankrupt forthwith, or within such
Lumber of days, not exceeding FIVE after the
date Of the order or notice thereof, as shall
by the order be prescribed, to make and de-
liver or transmit by mail, prepaid, to the
messenger schedule of the creditors and an
inventory of his estate in the form and veri-
fed in the manner required OF pettionlng
debtor by section thirteen. If the debtor has
failed to appear in person, or by attorney, a
certified copy of the adjudication shall be
forthwith served on him by delivery or publ.
cation in the manner hereinbefore provided
for the service of the order to show cause: (:
and if the bankrupt is absent or cannot be
found, such schedule and inventory shall be
prepared by the messenger and the assignee
from the best information they can obtain
If the pctitioning creditor shall not appear
proceed on the return day, or adjourned
day. the court may, upon the petition of any
other creditor to the required amount, proceed
to adiudicate OH such petition, ~ithout requr-
ing a new service or publication of notice to
the debtor,
BY ARRANGEMENT.
SEC. 43. And be it further enacted, That
if at the first meeting o. Creditors, Or at any
meeting of creditors to be specially called for
that purpose, aud of which previous notice
shall have been given for such length OF time
and in such manner as the court may direct.
lhree,iourihs in value of the creditors whose
claims have been proved shall determine and
| resolve that it is for the interest of the gene
raj body Of the creditors that the estate of the
bankrupt should be wound up and settled,
and distribution made among the creditors by
trustees, under the inspection and direction
OF committee of The creditors, it shall be
lawful for the creditors to certify and report
such resolution to the court, and to nominate
one or more trustees to take and hold aud
distribute the estate, under the direction Of
such committee. If it shall appear to the
| court, after hearing the bankrupt and such
creditors as may desire to be heard, that the
resolution was duly passed and that the in
terests of the creditors will be promoted
thereby, it shall confirm the same and upon
the execution and filing by or on behalf Of
thrce-fourths in value of all the creditors
whose claims have been proved Of consent
that the estate of the bankrupt be wound up
ana settled by said trustees according to the
terms of such resolution, the bankrupt or his
assignee in bankruptcy, if appointed, as the
case may be, shall, under the direction ofthc
court, and under oath, convey, transfer and
deliver all the property and estate of the
bankrupt.to the said trustee or trustees, who
shall, upon such conveyance and transfer,
have and hold the same in the same manner,
and with the same powers and rights, in all
respects, rs the bankrupt would have had Or
he'd the same if no proceeding in bankruptcy
had been taken, or Us the assignee in bank
ruptcy would have Gone had such resolution
nc; been rasscd; and such consent and the
proceeding hereunder shall'be as binding in
all respects ON any creditor whose debt is
prevable who has not signed the same as il
be had signed it, and on any creditor whose
debt, if provable, is not proved, as If he had
proved it, and the court by order shall direct
all acts and things needful to be done to car
~ into effect such resolution OF the creditors,
AMI the said trustees shall proceed TO wind up
and settle the estate under the direction and
inspection of sdch committee ofthe creditors,
for the equal bcueft of all such creditors and
the winding up and settlement Of any estate
under the provisions Of this section shall be
deemed to be proceedings in bankruptcy un-
der this Act; and the said trustees Shall
hare the rights and powers of assignces IN
bankruptcy. The court, on the application
of such trustees, shall have powerto summon
and examine, on oath or otherwise, the bank
rupt and any creditor, and any person In.
de5ted to the estate or known or suspected OF
ha7ing any of the estate in his possession, or
an7 other person whose examination may be
material or necessary to aid the trustees in
the execution of their trust, and to compel
the attendance of their trust, aud to compel
the attendance of such persons and the pro-
du,tion of books and papers in the same man
ne. as in other proceedings in bankruptcy
under this Act; and the bankrupt shall have
the right to apply for and obtain discharge
after the passage of such resolution aud the
an ,ointmcnt of such trustees as if such reso-
luton had not been passed, and as if Ill the
proceedings had continued in the manner
provided in the proceeding sections OF this
IL clio Ii lhn 6nlN r