Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-03-08

have proved their claims is filed in The case
at or before the time of application for dis
charge.
Sec "a A discharge duly granted under
this act shall, with the exceptions afore-
said, release the bankrupt from all debts,
claims, liabilities and demands which were
or might have been proved against his
estate in bankruptcy, and may be pleaded
as a full and complete bar to all suits
brought on any such debts, claims, liabili-
ties or demands, aad the certificate shall be
conclusive evidence in favor Of sHch bank
rupt of the fact and the regularity Of such
discharge. But any creditor may contest
the validity of the discharge, by applying
to the court which granted it within two
years, setting forth what fraudulent acts it
is expected to prove against the bankrupt.
If the court, upon hearing the case, shall
find sneh fraudulent acts proved, the dis
charge shall not be admitted.
Sec. 35 declares null and void any at.
tachment, sequestration or seizure of pro-
perty, procured by himself, to be made in
contemplation Of insolvency, within four
months before an application is filed by
bankrupt, for the purpose Of giving prefer
ence to any creditor; and any payment,
pledge, assignment or conveyance Of pro-
perty made, and knowingly received by the
creditor for the same purpose, is also void,
and the assignee may recover the property,
or its value, from the person receiving or
to be benefited by it and any creditor who
shall obtain from a bankrupt any goods,
money or securities, as an inducement for
consenting to a discharge, forfeits all right
to any dividend in the estate, and also
double the amount or value of the money
or goods received, to be recovered by the
assignee for the benefit of the estate.
Sections So and 81 regulate the bank
ruptcy of partnerships and corporations.
Sec. 80 provides for ascertaining the
date of proceedings in bankruptcy; for the
custody of papers, the taking of deposit
tiOns, etc.
Sec. SO prescribes the manner of COM
mencing the proceedings in involuntary
bankruptcy: Any person owing debts as
aforesaid, who, after the passage of this act,
shall depart from the State, district, or ter
ritory, Of which he is an inbabitant, with
intent to defraud his creditors; or, being
absent, shall, with such intent, remain abb
sent, or shall conceal himself to avoid the
service of legal process; or shall conceal
or remove any of his property or shah
make any assignment, conveyance or trans
fer of his estate, or credits, either within the
United States or elsewhere, with intent to
delay, defraud or hinder his creditors; or
who has been arrested and held in custody
by virtue of HesRe process of execution,
issued out of any court of any State, dis
trict or territory, within which such debtor
resides or has property, and for a sum ex-
ceeding one hundred dollars, and sueh pro
cess isremaining in force and not discharged
by payment, or in any other manner pro-
vided by the law of such State, district or
territory applicable thereto, for a period
of seven days. or has been actually inn
prisoned for more than seven days in a
civil action, founded on contract, for the
sum of one hundred dollars or upward or
who, being bankrupt or insolvent, or in
contemplation Of bankruptcy or insolvency,
shall make any payment, conveyance, or
transfer of money, or other property, with
intent to give preference to one or more
of his creditors, or who, being banker
merchant, or trader has frauduiently
stopped or suspended and not resumed pay
ment of his commercial paper, within
period of fourteen days, shall be deemed
to have committed an act Of bankruptcy,
and subject to the conditions hereinafter
prescribed, shall be adjudged bankrupt,
on the petition of one or more Of his credit
ors the aggregate of whose debts, proyable
under this act, amount to at least two hum
dred and fifty dollars, provided such petit
tion is brought within six months after the
act of bankruptcy shall have been COM
mitted.
Secs. 40, Al and AZ provide for the ar
rest and Imprisonment OF an involuntary
bankrupt, if there is probable cause for be-
lieving he is about to leave the district, or
TO remove, conceal, or fraudulently trans
fer his property; for jury trial on the debt
or's demand, to ascertain the fact of the al
legged bankruptcy, for the taking possession
of his estate, if found bankrupt, and for the
distribution thereof among creditors in
the same manner as if on the bankrupts
petition. sEe E
Sec. 43 provides for superseding these
bankrupt proceedings, if three-fourths of
| the creditors shall determine that the gem
eral interest requires the estate shall be
| settled by trustees, under direction of a
committee of the creditors. The trustees
in this case have all the powers and duties
of assignees in other cases and the bank
rupt has the same right to apply for a
| discharge.
Sec. Al Furnishes any fraudulent transfer
or concealment of property, attempt to ac-
count for it by fictitions losses or expenses,
or any other acts before described intended
to defraud creditors, as a misdemeanor, by
Imprisonment, with or without hard labor,
not exceeding three years.
Secs. 45 and 46 prescribe penalties for
the acceptance of brides by judges, regis
ters, assignees or other officers of bankrupt
courts and for forgery of signatures or
counterfeiting of seals to documents on pro-
ceedings in bankruptcy.
Sec. AZ fixes the fees and costs charge
able under the act.
Secs. As and 49 explain the technical
meanings of terms, and the mode of CONF
putting lime, where limited by the act, and
confer bankruptcy jurisdiction upon the
Supreme Courts Of the District of Columbia
and the various territories. ~
Sec so. This act shall commence and
take effect, as to the appointment of the
officers created hereby, and the promulga-
ton of rules and general orders from and
after the date OF its approval.