Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1867-03-27

time to time, upon oath, TO amend and cor
rect his schedule of creditors and property,
so that the same shall conform to the facts.
For good cause shown, the wife of any bank
rupt may be required to attend before the
court, to the end that she may be exam
ined as witness and if such wife do not
attend at the time and place specified in the
order, the bankrupt shall not be entitled to
a discharge unless he shall prove to the salts
faction Of the court that he was unable to
procure the attendance of his wife. No
bankrupt shall be liable to arrest during the
pendcncy of the proceedings in bankruptcy
in any civil action. unless the same is found
ed on some debt or claim from which his dis
charge in bankruptcy would not release him.
OF THE DISTRIBUTION OF THE BANKRUPr's s
SEC 27. And be it further enacted, That
all creditors whose debts are duly proved and
allowed shall be entitled to share in the bank
rupt's property and estate pro rata, without
any priority or preference whatever, except
that wages due from him to any operative, or
clerk, or house servant, to an amount not ex-
ceeding fifty dollars, for labor performed
within six months next preceding the adjudi-
cation of bankruptcy, shall be entitled to
priority, and shall be first paid in full; Pro
uided, That any debt proved by any person
liable bail, surety, guarantor, or other
wise, for the bankrupt shall not be paid to
the person so proving the same until satisfac-
tory evidence shall be produced of the pay
ment of such debt by such person so liable,
and the share to which such debt would be
entitled may be paid into court, or otherwise
held for the benefit of the party entitled there
to, as the court may direct At the expiration
of three months from the date fthe adjudica-
tion of bankruptcy in any case. or as much ear
lier as the court may direct, the court, upon
request of the assignee, shall call a general
meeting of the creditors, of which due notice
shall he given, and the ASST gnee shall then re-
port, and exhibit TO the court and to the
creditors lust and true accounts of all his re-
ceipts and payments, verified by his oath, and
he shall also produce and file vouchers for all
payments for which vouchers shall be requir-
ed by any rule of the court, he shall also
submit the schedule of the bankrupt's credi-
tors and property as amended, duly verified
bv the bankrupt, and q statement OF the
whole estate of the bankrupt as then ascer-
tanned, of the property recovered and OF the
property outstanding, specifying the cause
of its being outstanding, also what debts or
claims are vet undetermined and stating
what sum remains in his hands. At such
meeting the majority in value of the credi-
tors present shall determine whether any
and what part of the net proceeds of the es-
tate, after deducting and retaining sum
sufficient to provide for all undetermined
claims which, by reason of the distant resi-
dence of the creditor, or for other sufficient
reason, have not been proved, and for other
expenses and contingencies, shall be divided
among the creditors but unless at least one
half in value of the creditors shall attend
such meeting, either in person or by attorney
it shall be the duty of the assignee SO to de-
termine. In case dividend is ordered the
register shall, within ten days after such
meeting, prepare list of creditors entitled
to dividend, and shall calculate and set oppo-
site to the name of each creditor who has
proved his claim the dividend to which he is
entitled out of the net proceeds of the estate
set apart for dividend. and shall forward by
mail to every creditor q statement of the div
idend to which he is entitled, and such credi-
tor shall be paid by the assignee in such
manner as the court may direct
SEC. 2S. And be it further enacted, That the
like proceedings shall be had at the expira
tion of the next three months, or earlier, il
practicable. and third meeting of creditors
shall then be called by the court, and final
uivICend men declared, unlesS any ection a.
law or suit in equity be pending, or unles;
some other estate or effects of the debtor
I afterwards come 10 lifc HdIIh vi llt dselSiltt
| in which case the assignee shall, soon al
NAV be, convert such estate or effects int
money, and within two months after tn,
same shall be SO converted the same shall b
divided in manner aforesaid. Further divi
dends shall be made in like manner as often a.
occasion requires and after the third meeting
of creditors no further meeting shall be callet
unless ordered by the court. If at any time
/ there shall be in the hands Of the assignee
anv outstanding debts other property, due
or belonging TO the estate, which cannot b'
collected and received by the assignee with
out unreasonable or incOnvenient delay o
expense, the assignee may, under the dlrec
ton of the court. sell and assign such debt
or other property in such manner as the cour
shall order No dividend already declared
shall be disturbed by reason of debts beini
subsequently, proved. but the creditors prov
ing such debts shall be entitled TO a dividen
equal to those already received by the othe
creditors before any further payment is mad
to the latter. Preparatory to the final divi
dend, the assignee shall submit his accoun
to the court and file the same. and give motto
to the creditors of such filing, and shall ais
give notice that he will apply for settle
ment of his account, and for discharge fror
all liability as assignee, 1T a time to be spec
fled in such notice; and at such time tn
court snail duUll tsiSS tIlC deSouhto
the assignee, and such assignee shall, if re
quired by the court, be examined as to th
truth of such account. and if found correc
he shall thereby be discharged from all liabi
itv as assignee to any creditor of the banl
rupt. The court shall thereupon order a div
idend of the estate and effects, or of sue
part thereof as it sees fit, among such of tn
creditors as have proved their claims. in pr
portion to the respective amount of the
said debts In addition to all expenses ne
essarily incurred by him in the execution
his trust, in any ease, the assignee shall
entitled to an allowance for his services
such case, on all moneys received and pa
out by him therein, for any sum not excee'
ing one thousand dollars, five per centu
thereon ; for any larger sum, not exceedin
five thousand dollars, two and half p'
centum on the excess over one thousand dc
lars and for any larger sum, one per centu
e ON the excess over five thousand dollars az
:, if, at any time, there shall not be in his han
q sufficient amount of money to detray Il
u necessary expenses required Tor the furth
t execution of his trust, he shall not be obi
e ed to proceed therein until the necessa
n funds are advanced or satisfactorily secur
: to him. If, by accident, mistake, or 9th
: cause, without fault of the assignee, eth
|, or both of the said second and third NEE
d ings should not be held within the times lii
: tied, the court may, upon motion of an j
n terested party, order such meetings, wi
J. like effect as to the validity of the procee
;, ings, as if the meeting had been duly hel
e In the order for dividend, under this Sc
ton, the following claims shall be entitled
|, priority or preference, and to be first paid
C full in the following order
n First. The fees, costs, and expenses
l. suits, and the several proceedings in bar
( ruptcy under this act, and for the custody
?; property, as herein provided.
ii Second All debts due to the United Stat