Year: 1867

.


ruptcy throughout the United States,


[coSrNUED.


ov property PERIsHABLE AND IN DISPUTE.


Sec. 25. And be it further enacted, That when
It appears to the satisfaction o. the court tnat
the estate of the debtor, or any part thereof, is
of a perisbable nature, or liable to deteriorate
in value, the court mag order the same to be
sold. in such manner as may be deemed most
expediept. under the direction of the messenger
or assignee as the case may be, who shall hold
the funds received in place of the estate disposed
of; and whenever it appears to the satisfaction
of the court that the title to any portion OF the
estate, real or personal, which has come INTO
possession of the assignee, or which is claimed
by him is in dispute, the court may, upon the
petition of the assignee, and after such notice to
the claimant, his agent or attorney, as the court
shall deem reasonable, order it to be sold, under
the direction of the assignee, who shall hold the
funds received in place of the estate disposed
of; and the proceeds of the sale shall be con-
sidered the mesure of the value of the property
a. a"y So+v go n. - r.O, TSIUn shall not pre-
,ent the recovery of the property from the pos
session of the assignee by any proper action
commenced at any time before the court orders
tho sale.


EXAMISATIoN OF BANKRUPTs.


Sec. &c. And be ii further enacted, That the





in bankruptcy or of auy creditor, or without
any application, at all times require the bank
rupt, upon reasonable notice, to attend and sub
NIT to an examination, on oath, upon all mat
tiers relating to the disposal or condition of his
property, to his trade and dealings with others,
and his accounts concerning the same, to all
debts due to or claimed from him, and to all
other matters concerning his property and estate
andthe due settlement thereof according to law,
which examination shall be in writing, and
shall be signed by the bankrupt and filed with
the other proceedings; and the court may, in
like manner, require the attendance of any other
person as a witness, and if such person shall
fail to attend, on being summoned thereto, the
court may compel his attendance by warrant
directed to the MARSHAL commanding him to
arrest such person, and bring him forthwith be-
fore the court, or before register ip bankruptcy
for examination such witness If the bank
rupt is imprisoned, absent, or disabled from at
t ndance, the court may order him to be pro-
duced by the jailer, or any officer in whose Gusts
ody he may be, or may direct the examination
to be had, taken, and certified, at such time
and place and in such manner as the court may
deem proper and with like effect as if such
examination had been had in court. The bank
rupt shall at all times, until his discharge, be
subject to the order of the court, and shall, at
the expense of the estate, execute all proper
writings and instruments and do and perform
all acts required by the court touching the as
signed property or estate, and to enable the
assignee to demand, recover, and receive all the
property and estate assigned, wherever situ-
ated and for neglect refusal to obey any
order of the court, such bankrupt may be com
mitted and punished as for contempt of court.
II the bankrupt is without the district, and un-
able to return and personally attend at any Of
the times or do any OF the acts which may be
specified or required pursuant to this section,
and if it appears that such absence was not
caused by wtlful default, and if, as soon as may
be after the removal of such impediment, he
offers to attend and submit to the order of the
court in all respects, he shall be permitted so
to do, with like effect as if he had not been in
default. He shall also be at liberty, from time
to time, upon oath to amend and correct his
schedule of creditors and property, so that the
same shall conform to the facts 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 a witness; and if
such wife do not attend at the time and place
specified in the order, the bankrupt shall not
be entitled to a discharge unless he shall prove
to the satisfaction of the court that be was un-
able to procure the attendance of his wife. No
bankrupt shall be liable to arrest during the
pendeucy Of the proceedings in bankruptcy in
any civil action unless the same is founded on
some debt claim from which his discharge in
bankruptcy would not release him.


OF the Distribution OF THE BANKRUPT's ESTATE.


Sec. 81. And be It further enacted, That all
creditors whose debts are duly proved and al
lowed shall be entitled to share in the banks
ruPts 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 periomed within SIX
months next preceding the adjudication OF
bankruptcy shall be entitled to priority, and
shall be first paid in full: Preceded, That any
debt proved by any person liable as bail, surety,
guarautor, or otherwise, for the bankrupt, shall
not be paid TO the person so proving the same
until satisfactory evidence shall be produced of
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 the
request Of the assignee, shall call a general
meeting Of the creditors, of which due notice
shall be given, and the assignee shall then re-
port and exhibit to the court and to the credi-
tors just and true accounts Of all his receipts
aud payments, yepthed,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 sche.
dule of the bankrupt's creditors aud property
as amended, duly verified by the bankrupt and
statement Of the whole estate Of the bankru ri
as then Nscertained, Of the property recovered
and OF the property outstanding, specifying the
cause Of its being outstanding, also what debt:
or claims are yet undetermined, and stating
what sum remains 10 bis hands. At such meet,
ing the majority inyalue of the creditors pre,ep
shall determine whether any aud what part O
the net proct1s Of the estate, after deductipo
and retaining a sum sufficient to provide for al
undetermined claims which, by reassn of IN,
distant residence Of the creditor, or for otbei
sufficient reason, have not been proved, and fol
other expenses and contingencies, shall be di
vided among the creditors but unless at leas
one,half 10 value Of the creditors shall attend
such meeting, either in person or by attorney
1t shall be the duty Of the assignee so to deter
mine. In case dividend is ordered, the reriste
shall, within ten days after such meeting pre
pare list Of creditors entitled to dividend, anS
shall calculate aud set opposite to the name o
each creditor who has proved his claim III,
dividend TO which be is entitled out Of the ne
proceeds Of the estate set apart for dividend
and shall forward by mail 10 every creditor
statement OF the dividend 10 which n. l. -,