Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-03-21
NO. 80.

u
manner as the court may deem proper, and with
/ like effect as if such examination had been had
| IN court, The bankrupt shall at all times. until
i his discharge, be subject to the order Of the
/ court, and shall st the expense Of the estate,
4 execute all proper writings and instruments. and
/ do and perform all acts required by the court
touching the assigned property or estate,
/ and 10 enable the assignee to demand,
recover, and receive all the property and
/ estate assigned, wherever situated; and for
neglect OF refusal to obey any order OF the court,
/ such bankrupt may be committed and punished
as for contempt of court. If the bankrupt is
| without the district. and unable to return and
/ personally attend at any Of the times or do any
| of the acts which may be specified or required
such absence was not caused by wilful default,
| and II, as soon as may be after the removal of
| such lmpediment be offers TO attend and sub
NIT to the order Of the court in all respects. he
shall be permitted so TO do, with like effect as IL
| he had not been in default. He shah also be at
liberty. from time to time, upon oath. to amend
and correct his schedule of creditors and pro-
| perty. so that the same shall conform to the
| tacts. For good cause shown. the wife Of any
bankrupt may be required to attend before the
court. to the end that she may be examined as
| witness and II such wife do not attend at the
| time and place specified in the order, the bank
| rnpt shall not be entitled to discharge unless
he shall prove to the satisfaction Of the court
| that he was unable to procure the attendance of
| his wife. No bankrupt shall be liable to arrest
| during the pendeney Of the prOceedingsin bank
! ruptcy in any civil action, unless the sane Is
| founded on some debt or claim from which bis
| discharge in bankruptcy would not release him.
OF THE DISTRIBUTION OF THE BANKRUPT's
EsrATE.
See. n. And be it further enacted That all
creditors whose debts are duly approved 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 exceeding
fifty dollars, for labor performed within six
months next tPreceding the djudication OF bank
ruptcy, shall be entitled to priority and shall be
first paid in full Provided. That any debt
proved by any person liable as bail. surety,
guaTantOr. OF otherwise, for the bankrupt shall
not be pad to the person SO proving the same
the payment 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 thereto,
as the court may direct. At the expiration of
three months from the date Of the adjudication
| OF bankruptcy IN any case or as much earlier as
the court may direct, the court. upon request of
the assignee shall call o general meeting Of the
| creditors, of which due notice shall be given,
| and the assignee shall then report and exhibit
to the court and to the creditors just and true
accounts of all his receipts and payments veri-
fed by his oath, and he shall also produce and
file vouchers for all payments for which vouchers
shall be required by any rule of the court he
| shall also submit the schedule Of the bankrupts
creditors and property as amended, duly veri-
fed by the bankrupt. and a statement Of
| the whole estate of the bankrupt as
then ascertained. of the property recovered
/ and of the property outstanding, specifying
the cause Of its being outstanding. also what
debts or claims yet undetermined. and
| stating what sum remains in his hands At such
meeting the majority in value of the creditors
| present shall determine whether any and what
part of the net proceeds of the estate. after de-
| Quoting and OBTAINING a sum sufficient to pro-
vide for all undetermined claims, which by rea-
| son of the distant residence of the creditor. or
for other sufficient reason have not been proved
aud for other expenses and contingencies. shall be
divided among the creditors; but unless ut least
one-half in value Of the creditors shall attend
such meeting, either in person or by attorney,
il shall be the duty of the assignee so to deter
mine. 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 opposite 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 fer
ward by mail to every creditor a statement OF
the dividend to which he Is entitled. and such
| creditor 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 expiration
| of the next three months. or earlier, If prac-
| tieable and a third meeting Of creditors shall
| then be called by the court. and final dividend
then declared. unless any action at law or suit in
| equity be pending, or unless some other estate
or effects of the debtor afterwards come to the
hands of the assignee, in which case the assignee
| shall as soon as may be. convert such estate or
effects into money, and within two months after
the same shall be SO cow varted the same shall be
divided in manner aforesaid. Further dividends
1 shall be made in like manner Is often as Oeea
| sion requires and after the third meeting Of
creditors no further meeting shall be called, IN
| less ordered by the court. If at any time there
| shall be in the hands of the assignee any out
standing debts or other property, due or belong
| ing to the estate. which cannot be collected and
| received by the assignee without unreasonable or
| incOnvenient delay expense, the assignee
| may under the direction of the court, sell and
/ assign such debts or other property in such
manner as the court shall order No dividend
| already declared shall be disturbed BY reason
/ Of debts being subsequently, proved, but the
creditors proving such debts shall be entitled to
| a dividend equal 10 those already received hg
/ the other creditors before any further payment
/ is made TO the latter Preparatory TO the final
/ dividend, the assignee shall submit his account
| to the court and file the same, and give notice
to the creditors of such fling, and shall also give
notice that he will apply for settlement OF his
1 account and for q discharge from all liability as
| assignee at time to be specified in such notice.
and at such time the court shall audit and pass
! the accounts Of the assignee. and such assignee
/ shall. if required by the court, be examined
| as to the truth of such account, and II found
/ correct, he shall thereby be discharged from all
liability assignee to any creditor OF the bank
| rupt. The court shall thereupOn order diVl-
/ dend of the estate and effects, or of such part
thereof as it sees ht, among such Of ne credit
| Ors as have proved their claims. in proportion
to the respective amount OF their sal debts: In
! addition to all expenses necessarily incurred by
| him in the execution Of his trust m any case,
! the assignee shall be entitled 70 an allowance LOT
| his services in such case on all moneys received
| and paid out by him therein. for any sum not
| exceeding one thousand dollars. i've per centum
| thereon !; for any larger sum, not exceeding hYe
| thousand dollars two and half per centum on
| the excess over one thousand dollars; and for
| any larger sum, one per eentum on the excess Oi
| FIVE Thousand dollars; and If. at any time, there
| hall not be in his hands a sufficient amount OF
| money to delrsy the necessary expenses required
for the further execution Of his trust, ne snail
! not be obliged to proceed therein until the
necessary funds are advanced or satisfactorily
secured to him. II, By accident, mistske, or
other cause without fault OF the assignee, either
| or both of the said second or third meetings
should not be held within the times limited, the
| court may. upon motion of an interested party,
order such meetings, with like effect as 10 the
| validity of the proceedings AS II the meeting had
| been duly held. In the order for dividend,
| under this section, the following claims shall be
entitled to priority preference, and to be hrst
| paid in full in the following order:
First. The fees costs. and expenses Of suits,
and the several proceedings in bankruptcy
under this act. and for the custody OF property
| as herein provided
Second All debts due to the United States.
| and all taxes and assessments under the laws
thereof. ,
Third. All debts due to the State in which the
| proceedings in bankruptcy are pending, anu All
taxes and assessments made under the laws OF
Fourth. Wages due to any operative. clerk, or
| house servant. to an amount not exceeding my
| dollars for labor performed within SIX months
next preceding the first publication OF the notice
| Of proceedings in bankruptcy -
Fifth. All debts due 70 any persons VINO, Dy
| the laws Of the United States, are Or may be en-
| tilted 10 a priority OF preference, IN like man
| ner rs If this act had not been passed: Always
provided. That nothing contained IN TINS acl
! shall interfere with the assessment and eollec-
ton Of taxes by authority Of the United states
| or any State
| OF THE BGNKRUPr's DISCHARGE AND ITS EFFEcf.
| Sec y. And be it further enacted. Ihat at any
| time after the expiration Of six months from the
4 ADJUDICATION Of bankruptcy. or II no debts save
| been proved against the bankrupt or II no asset
| have come 70 the hands Of the asaignee' Al hhy
| time after the expiration Of SIXTY dAyS anu
| within one yehr from the adjudication OF bhnh-
| ruptcy the bankrupt may apply % the court igI
| n discharge from his debts, and the court shAii
| thereupon order notice to be given ~ man %
| All creditors who have proved their debts, ara
| nv pu blication at least once week IN 5uch news
| nafers ag the court shall designate. due regard
being had 10 the general circulation OF the sam
in the district or in that portion OF the district
| Vhirh the bankrupt and his creditors snail re-
| side 10 appear day appointed Tor thHt Psf
/ pose and show cause why a discharge shOulu no. M
| be granted 70 the bankrupt NO discharge shail
| he grapted or II granted. be valid, n the bank
| rupt has wilfuily sworn falsely 10 his anhdaYii
| annexed to his petition, schedule or inventory
| or upon any examination In the course OF tue
| proceedings in bankruptcy, IN relatiop 70 any
material fact concerning biz estate YI pls usDts'
or 70 any other material iAct; ss ~ he has con @
| cealed any part Of his estate or effects, Or any
/ hooks or writings relating thereto, or II ne ma.
been guilty Of any fraud or negligence IN NJ
| care custody, OF delivery 70 the assignee ol tne
| uroperty belonging 20 him az the ume 9i me ~
sentati N Of bis petition and inventory eAospts
| inc sf1ch property as he Is permitted 70 rel tin
nader the provisions Of this aet, OF II ne tas