The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1889-05-09

eucn assignee ana MS successors, Piov1ueu,
however, that such assignment shall not
vacate or affect any levy made by virtue OF
an execution issued on money JUDGMENT
entered against such debtor on complaint
next prior to entry of such judgment in the
court in the county where the defendant
resided meanwhile: and provided further.
that the release Of ony debtor under thls act
shall not operate to discharge any other
party liable as surety, guarantor or otherwise
SEC ?. That the second section Of said
to to- r D ia as II follows, - viz: whenever any
insolvent debtor shall confess judgment.
or do anything whereby any Of
his creditors shall obtain preference over
anything which he might lawfully; do to pre-
vent any Of his creditors obtaining prefer.
ence over any other Of his creditors, or. shall
not make an assignment under the first sec
ton of this act, within ten days after garnish-
ment made against him, or within ten days
after levy made on any Of his property by
virtue Of an attachment, execution or other
legal process against him for collection OF
money, or shall conceal, remove, or dispose
Of any Of his 'lnexempt property with intent
thereby to delay or defralld his creditors,
then. or within sixty days thereafter, any one
him to the aggregate amount of atleast $500,
may petition the district court, ora judge
thereof, setting forth facts constituting one
or more of said cases, and asking that re-
CVNei DC AppOIllletl, VI uIl VIC uNeAc1upt
property of such debtor, aud for such other
and further relief as may be proper; and
said petition may be heard in any county
DESIGNATED by the judge: and upon notice Of
the court or judge shall direct, to the debtor
and any creditor about to be preferred. the
court i'll term time, or the judge thereof i'll
vacation, shall proceed 10 hear ana deter
ceive such evidence as may be pertinent and
if it shall appear to the court, or judge, that
such insolvent debtor has confessed jCdg-
ment, or has done ANYTHING whereby any of
amy other Of his creditors. or has omitted to
do anything which he might have lawfully
done 10 prevent any of his creditors obtain
ing preference over any other Of his credi-
under the first section of this act within ten
days after punishment made against him. or
within ten days after levy made Oh any of his
property by virtue Of an attachment. execu-
collection of money, or that he has con-
cealed removed, or disposed OF any Of his
unexempt property with intent thereby to
delay or defraud his creditors. then the
court or judge shall appoint receiver, who
shall have power and authority to, and who
shall take possession of all the property Of
such debtor, not exempt by law, including
oil property concealed. removed, or other
wise disposed of by such debtor in violation
of any provision of this act. and also all
property then under garnshment, attach
ment or levy, except such as was levied upon
under an execution issued upon Judgment
against such debtor entered on a complaint
which was on file in the court in the county
where the debtor then resided during the
period Of at least twenty days next before
entry Of such judgment; and such receiver
shall have power and authority 10, and he
shall, within four months from his appoint.
ment, unless the court or judge shall other
wise direct, and shall allow further time,
convert said property into money and dis.
tribute the net proceeds thereof rateably
and in proportion to the amount Of
their several demands among The creditors of
proof of their respective demands within
such time and in such manner as court or
judge, shall direct, and who shall, IN
consideration Of the benefit of the
against such debtor rs herein provided; and
the court or judge shall order the debtor to
make, verify and file in the court a schedule
schedule of all his property The court in
term time. and the judge thereof during va
cation, may also make such further and other
into full effect the provisions Of this act and
such orders and applications therefor may be
made, served and enforced on Sunday when
to protect the rights OF creditors or
SEC 8. That section four Of said act be
ana the same is hereby amended by striking
out the words -four months wherever they
appear ipp, in said section, and BY inserting in
lieu thereof the words NINETY days.
SEC 4. That section FIVE of said act be and
the same is hereby amended by striking out
all after the words Joined in such petiiion,'
and inserting in lieu thereof the following,
missed except on order 10 show cause, duly
served upon all the creditors either person
sly OF sI. ~ mall OF by publication, as the
SEC : That coo+;or civ ~ .o;a ,,.h.s
the same is hereby amended by inserting
after the word court therein the words
"and disbursements"
SEC: g. That section nine Of said act be
ana the same Is hereby amended by striking
out all after the words lin his stead" and by
Inserting thereof the following, namely:
And upon petition of q majority in number
and amount Of the creditors, 1t shall be the
receiverappointed hereunder. and if he is
shown, and the court believes him to be a
proper person, the court shall appoint the
court shall appoint some other suitable Der.
son as assignee or receiver.
SEC: Z: That section ten Of said act
be and the same Is hereby amended by strik-
ea out such III fessssf after icing the al. r0'd 81
the proviso of said section, and by in
sorting in lieu thereof the following, namely:
provided, however, that when any creditor
Of such insolyent debtor who has made an
assignment of his property hereunder, or Of
whose property receiver has been ap-
pointed hereunder shall petition to the court
Or Judge, before entry OF the final order for
his creditors as herein provided, setting forth
that such debtor has willfully sworn falsely
III relatIon to any specified material fact, in
any allldavlt or upon any examination under
this ACT, or that he has concealed from the
assignee or receiver any Of his property. or
evidence thereof. or that he has DESTROYED or
1a!sified any Of his account books, or other
to any snch doings, with intent to delay or
defraud his creditors or that he has removed
or has couniyed at the removal of any OF his
property, or evidences thereof, from this
alton or this act, or that he has given, or
permitted, any preference. contrary to the
PROVISIONS OF this act, or that having knowl-
edge that any person has presented false
not disclosed the same to the assignee or re-
cciver within thirty days thereafter, or that
ne has not kept books Of account or records
from which his true condition can be ascer-
tanned, or that he has, within six months
prior to his assignment or to the appoint
ment of the receiver, concealed, removed or
disposed Of all or some part Of his property
with intent thereby to delay or defraud his
creditors, then the court or Judge shall re-
Guire the insolvent debtor to appear before
him at Il time and place designated tor that
purpose, and, after notice to such com plain
ing creditor Of the time and place of such
hearing in such manner as the court or Judge
may direct, the court, or judge, shall proceed
upon such petition, summarily, and If the
allegations thereof shall be controyerted or
denied, shall hear such evidence as NAV be
pertinent, and after said hearing the court
Or Judge may, in his discretion, order and
direct that all OF the debtors property not
exempt by law, be distributed among his
cercaitorS, as hereinbefore provided, without
iaelr filing releases rs aforesaid; and cred
ilors may In like manner be examined with
respect TO the validity Of their demands
ho
added TO said act the following sections
name!y: Section IL. That the fees to be nj
lowed 10 the assignces or receivers hereunder
shall not, in ordinary cases, exceed len ner
cent upon the amount received by them up
S9p' S ~ 5SS S%o aunt
Two per cent upon the amount in excess Of
$o,OO0C0; and the allowance for attorneys
Tees shall not exceed $4,000, where the
gross proceeds Of the estate do not exceed
e., 100000, and where they do exceed
100000, or in extraordinary cases. inyoly-
ing unusual litigation, the fees Of the assign
ees or receivers, as we'll as of the attornevs.