Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-03-12

Following are the proposed amendments
to the insolvency law as proposed by the
subcommittee. which are to be embodied
in n bill soon TO be presented.
a. Fees to judges and registers to be
turned into the county treasurer they to
be paid "A salary.
(2o In voluntary proceedings the debt
or-shall file with his petition a list of his
assets and a schedule of his creditors.
CD He must deposit twenty-five dol
lars with his petition.
a. All mortgages or other securities
given TO obtain money to make the de-
post or pay the attorney SHAH be void.
but the claim of the person who advances
the deposit fee and the attorneys fees
shall be preferred clairns, to be paid out
of his estate in preference to any other
claim, and the debtors reasonable cour-
sci fees shall be paid from the estate by
order of the judge.
ton of the debtor shall be had to deter
mine whether he is insolvent and whether
an assignee shall be elected.
90 If there are no assets no assignee
shall be elected unless some creditor
| files q written motion for such election
which he may do at any time and there
in states upon oath that he has reason
to believe and does believe that there are
| nndisclosed assets or that the value of
the assets by said debtor in his list SO
filed are grossly undervalued. which
property and interest shall be stated SO
| far as possible by said creditor If the
| assets not claimed as exempt do rot ex-
/ cceu Sluu. no dSSlpIlee SHall eject aO u11-
less the judge so orders. He may direct
the messenger to convert the assets into
cash.
"a In other cases an assignee shall be
ELECTED IN the manenr now provided.
81 The examiner shall be paid linn
tied sum out of the estate a deposit fee.
OO.) He must owe at least three hum
dred dollars unsecured QebtS.
| Ql) The examination shall be as to
his property. liabilities business affairs
and disposition of his property. and TO
| determine whether he is in fact insolvent.
| Creditors may select examiner.
u2D II adiudged insolvent and there Is
| sufficient property. assignee to be Sc
lected as now. which shall be at the same
| shall adjourn the same.
| ODD Any creditor at expense of debt.
or's estate. at any time after six months
from adjudication of insolvency. may
petition. and a hearing shall be had upon
| the question whether a. discharge shall, be
granted to the debtor and the same, NAV
suits as In the present law.
| Q4C discharge shall not be granted
or If granted. be valid If the debtor has
sworn falsely to any material fact or II
| he has concealed any property books OF
papers relating to his estate and business,
or If having reasonable cause to believe
himself insolvent or being in cOntempla-
| ton of insolvency he has within Four
| months of the filing Of the petition by. OF
| against him. paid or secured, directly OF
rOwed money or pre-existing debt or any
liability of his or for him (unless the
| same was paid by him In the usual course
| of business without any intent on his
| part to violate the provisions of this
chapter) and he shall not be entitled
II he has caused his effects to be at
tached. or II he has destroyed. altered,
mutilated or falsiiied any of his books,
| documents, papers. writings or Sc cllritics
| or has made or been privy to thu, max
| ing Of any false or fraudulent entry In
| any book of account or other document
| with intent to defraud his creditors or
chapter. or mas removed or allowed to he
| removed any property with like intent
or has made any fraudulent payment
gift. transfer. conveyance. or assignment
/ of any part of his property Cor has de-
signedly In contemplation Of Insolvency
course OF business by purchasing upon
credit any goods. wares or merchandise.
| or If he has obtained the same on credit
by any intentional false statement as to
his property, earnings or ability to, pay
| or II nc HIS wasted his means by gamb-
person has proved a false debt against
his estate ne has not disclosed the same
to the assignee within thirty days after
such knowledge or Ii, being q merchant
or trader. he has not kept proper books
of account. And the discharge Is null
and void IL the debtor or any person in
his behalf has procured the assent of any
creditor thereto by any pecuniary con-
sideration or promise Of future prefer
ence.
Il 05J Any creditor who has accepted a
preference contrary to the provisions OF
this schapter shall not be permitted to
v0teyiOr assignee. nor shall his claim OF
vote: he considered in any composition OF
other proceedings except that he shall