Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1878-03-07

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he had before the Judge register of the court of
insolvency of the county where the witness to he
examined resides, and such examination shall he
taken upon oral or written heterogeneous, the
case may he. The notice to he given to the person
to be examined shall he at least one day for every
twenty miles travel OF the witness to the place of
exam nation II the claimant or person max ing
the original proof of debt. after due notice, shall,
without good cause, neglect refuse to appear
submit to such exami nation, the judge may reject
such claim without further hearing thereon and
witnesses shall be entitled to the usual fees
allowed by law before the probate courts.
SEC. %. Any creditor may prove his claim Mt
any time before the final meeting
SEC. "a. For the purpose of making the applica
ton provided by section fifty eight of eTccing the
composition provided by said section fifty eight,
and OF proving claims against an estate of any in
solvent under this act, creditor who holds secur-
lty, shall be considered creditor only for the
amount of his debt above the value of his security
firs In case of such Application, such value
snail be made to appear ii the first instance, by
the creditor, to the satisfaction Of the judge. and
be formally determined by him upon tue hearing
upon said application, if any shall be had
Second In case of coInpostion such value shall
be determined by the Judge, upon application of
either the editor debtor Third. In of proof
of claims, such value may be determined by agree
ment between the creditor and assignee, or by the
Judge, upon application of either the creditor or
assignee either by an adjudication thereof, or by
decreeing sale of such security, in such and
upon such notice As he may order.
SEC %. The Judge NAV postpone the proof of
any debt until after an assignee is elected or APP
pointed.
SEC. %. A person who has accepted any prefer
ence, knowing the debtor insolvent or in
temptation of insolvency, shall not prove the debt
on which the preference was given, nor receive any
dividend thereon until he shall surrender to tho
assignee all property. money, benefit or advantage
received by him under such preference.
SEC. q. Any creditor may act at all meetings by
ms authorized attorney. the same rs though per-
sonally present.
SEC. y. The creditors shlll at the first meeting
in the presence OF the judge, choos" one or more
assignees OF the estate OF the debtor; such choice
shall he made by three or more in number of the
rp1 radI tnr. he moe fnvi
son or by attorney, whose debts amount Collectively
to ne-halt in amount OF the debts proved; and
such election shall he subject to the approval Of the
Judge, who NAV appoint additional as>ignees, or
order new election. IL no choice is made by
the creditors at said meeting, the judge shall APP
point one or more assignees and the ud &c may at
any time for good cause shown, remove any as
sSnce AMI appoint another IN his place
SEC. -. Upon the application, in writing, of ono
more creditors, representing one fourth part of
the amount of debts proved the judS e shall require
the assignee to give bond for the a,thfu perform
ance OF his duties, in such sum as he shall direct,
and with such sureties as he shall approve.
SEC. 80. The judge shall, by an instrument
under his hand, assign and convey to the assignee
all the estate real and personal, of the dcbtor,
except such AS is by law exempt from attachment
and seizure on execution, together with all deeds,
books OF account and papers relating thereto.
which asst gnnent shall he executed forthwith in
the registry of deeds for the county where such
proceedings in insolvency are pending, and in the
registry of deeds IN each county in which there
may be real estate of the debtor and such assignee
shall give such public notice OF his election or APP
pOintmcnt as the judge may order; such assign
ment shall relate back to the commencement of
proceedings in insolvency, and by operation Of law
shall vest the title to all the property and estate OF
the debtor not exempt by law from attachment and
seizure execution, in the asst gnee, although the
same is then attached process as the prop
erty Of the DEBTOR, and such ASS gnnent shall dis
solve any such attachment made within four
months next preceding the commencement of pro-
ceedings in insolvency. Such assignee may sue for
and recover by action at Jaw, by IL hill in
equity, any sums of money paid by the debtor to
any creditor upon any writ, Judgment or execution,
when such payment is made within two months
prior to the commencement of the proceedings in
insolvency, and is received by the creditor
preference, in violation of the provisions of this
act, and the creditor knows at the time such pay
ments made that the debtor making the same
is insolvent.
SEC. 81. Whenever any creditor OF debtor, by
or against whom proceedings in insolvency shall be
commenced, shall at any time within ieur months
prior To the commencement of such proceedings,
commence against such debtor any suit at law
in equity, for the recovery of any debt claim
against such debtor, and upon such SUIT the goods,
effects estate .. the debtor shall he seized or
attached, the assignee of such debtor when chosen
appointed, may be admitted to prosecute such
suit to final judgment decree, and may in his
own name levy upon sell the property, effects
estate 50 attached, in the same manner the cred
itor III sht have done had no proceedings in nsol-
vency been commenced; and such attachment and