Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1867-03-22
TIE BANKRUPT LAM.

be name
-.
THE BANKRUPT Law.
E"a establish Il uniform system OF
bankruptcy throughout the United States.
Is, 4 enacted bg TIE Senate and House Of HsPra-
...lceS OTI5e Ialsef states Of HHJeTic0 IN tom
1883 assembled Ihatthc several district courts of
..." United States be and they hereby are. cousti-
tinted courts OF bankruptcy, and they shall have
anal jurisdiction m them respective districts IN
Sd matters and proceedings IN bankruptcy, and
they are hereby authorized 10 hear and adjudiCatc
aron the same according To the provisions OF this
..g. The said courts shall be always open for the
,-1nSaction OF business under tins act, ana the
lowers and Jurisdiction hereby granted and con-
.rr"d shall he exercised well in vacation as IN
,,tm time, and judge SittIn@ IN chanhers silaiI
...G The same powers and jurisdiction, intending
-.a I.1WCr Of keeping oTder and OF Furnishing any
'.nt1mpt Of his authority, aa when sitting IN
..nurt. And the Jurisdiction hereby conferred shall
..t-ud 10 all cases and controversies arising be-
+-,.an the bankrupt and any creditor creditors
ai. shall claim any debt demand under the
#nhruptcE: to the collection OF all the assets OF
.r.. bankrupt; 10 the a5certainment and IQuIda-
.l IF the liens and other specific claims thereon;
the adjustment Of the various prlOrities and
i:rting tintcrests Of all parties; and to the
a:.aiing and disposition OF the different funds
.. assets to secure the rights Of all parties
and due distribution of the assets among all the
agditors and to all acts, matters, and things to
g.. done under and IN virtue Of the bankruptcy,
until the final distribution and settlement of the
tate of the bankrupt, and the close OF the pro-
cetdingS in bankruptcy The said courts shall
Lave full authority to compel obedience to all or
,.,rs and DEGREES passed bvGhem in bankruptcy,
~ process of contempt and other remedial pro-
rges TO the same extent that the circuit courts
row have IN any suit pending therein IN equity.
aid courts may sit for the tranaction Of business
in bankruptcy at any place III the district. OF
which place, and the time OF holding court, they
SHALL have given notice, well at the places
designated by law for holding such courts.
~. TON .. ind be Il further enacted That the
a,craI Circuit Courts of the United States within
and for the districts whore the proceedings in
HaaETuptcy shall be pending snail have general
s0Perlntendence and jurisdiction OF all cases and
questions arising under this act and except when
=9rcial provision is otherwise made may, upon
bill petition. or other proper process of any party
aggiiGyed. =, ar and determine the case a court
o. equity. The powers and jurisdiction hereby
-rauted may be exercised either by said court or
Hyany justice thereof, in term time vacation.
Sad Circuit Courts shall also have concurrent jul
"57dictiOn with the District Courts of the same
district OF all suits at law or in equity which may
.rs shall be brought by the assignee in bankruptcy
a.sainst any person claiming an adverse interest
gr by such person against such assignee touch
lns any property rights of property OF said
bankrupt transferable to or vested IN such as
-'anee; but suit at law in equity shall in any
sase be maintainable by or against such assignee
.r by or against any person claiming an adverse
interest, touching the property and rights OF prop
.rsT Aforesaid IN any court whatsoever unless
t.e same shall be brought within two years from
time the cause OF action accrued for or against
sseh assignee Preceded, That nothing herein
obtained shall revive a right OF action barred at
tHe time such assignee is appointed.
a. TIE ApsuNTsTEA ALTON OF THE LAW IN COURTS OF
BANKRUPTCY.
SECTION >. And be Il further enacted That ii
sinai! be tho duty Of the Judges Of the District
Courts OF the United States within and for the
several districts TO appoint III each congressional
district in said districts upon the nomination and
r2cOmmendation of the Chief Justice of the ST.
peme Court OF the United States, more
I,sters in bankruptcy, to assist the Judge OF the
District Court in the performance Of his duties
nader this act. No person shall be eligible to
Zach appointment unless he be q counsellor of
a@ld court or of some one of the courts of record
"f the state in which he resides. Before enter
M upon the duties OF his office every person
appointed = register il bankruptcy shall give
bond to the United States, with condition that lac
VIII faithfully discharge the duties OF his office,
tu :. sum not less than $1,000, to be fixed by said
s'urt with sureties satisfactory to said court,
IT, either of the said justices thereof and he shall
Ill open court, take and subscribe the oath pre-
rribcd III the act entitled An act to prescribe
u'th Of office, and for other purposes" approved
+Uiy ,. 1862 and also that he will not during his
eautinuance in Office be, directly or indirectly in
torcsted III or benefited by the fees emoIuments
.FisInS from any suit or matter pending III bank
EHptcy IN either the District or Circuit Court i'll
ms district.
SECTION l. Ind be it further enacted, That every
i'%Istor IN Bankruptcy, 50 appointed and qualiti-
ii, shall have power, and it shall be his duty to
make adjudication Of bankruptcy, TO receive the
aufrender ot any bankrupt, to administer oaths in
I'll proceedings before him. to hold and preside at
meetings. OF creditors, to take proof Of debts, to
make ali computations OF dividends, and ali or
GERS Of distr BUTTON and TO furnish the assignees
WITH Il certified copy OF such orders and of the
schedules or creditors and assets filed IN each
'asc, to audit and pass accounts Of assigmees, to
.ranI protection. to pass the last examination Of
any bankrupt IN cases whenever the assignee or
FttUItOr do not oppose, and to sit in chambers
nd Dispatch there such part of the administrative
'HsIness OF the court and such uncOntcsted mat
'rls As shall be defined IN general rules and or
es or as the district Judge shall in any particular
matter direct and he shall also make short
a.enoranda of his proceeding in each case in
which he shall act, in q docket to be kept by him
that and ha shall +f,o
proceedings are taken, forward to the Clerk of the
Olstrlct Court certified copy OF said memoranda,
which shall be entered by said clerk in the proper
minute book 10 be kept IN his office, and anyregls-
If OF the court may action any other egister there
OF: Fr0cded h0toe0e, That nothing i'll this section
"oDtalned shall empower register to commit for
contempt, or to hear disputed adjudication, or
any question OF the allowance or suspension of an
order OF discharge; but in all matters where an
issue OF facts or OF law is raised and contested by
any party TO the proceedings before him, it shall
be his duty to cause the question or issue to be
stated by the opposing parties in writing, and he
shall adjourn the same into court for decision by
Ii" judge. No register shall be of counsel or at
tofney, either IN or out of court, in any suit or
matter pending in bankruptcy in either the Cir
cunt or District Court of his district or in an ap-
peal therefrom nor shall he be executor admin
sIatoF, Suafdlah, commissioner appraiser, d.
NIdef or assignee Oh or upon any estate within the
jurisdiction OF either of said courts of bankruptcy
nor be Interested in the fees or em0Inments ari-
slng from either of said trusts. The fees of said
registers, as established by this act and bv the
general rules and orders required to be framed
under 1t, shall be paid TO them by the parties for
whom the services may be rendered in the course
o. proceedings authorized by this act.
SECTION 5. And be 1t further enacted, That the
JudSe OF the District Court may direct register
10 attend at any place within the district for the
n [dP2I tf OF nearing such voluntary applications
u1L oLi5 act as may not be opposed, of attending
deDts, and, generally, for the prosecution of any
Dannt thp t or other proceedings under this act
1IG tne travelling and incidental expenses of sucl
register, and OF any clerk or other officer attend
ing nm, incurred in so acting shall be settled by
sad court h t with the rules prescribed
q the assets Of the estate in respect Of which