Strengthening of Procedure in the Judicial System: Message from the President of the United States Recommending the Strengthening of Procedure in the Judicial System : Together with the Report of the Attorney General on Bankruptcy Law and PracticeU.S. Government Printing Office, 1932 - 211 pages |
Common terms and phrases
abuses accounts adjudication adjustment bureaus after-acquired property amendment to section American Bankers Association American Bar Association amortization amount annum application appointed assets realized assignment Association of Credit attorneys authorized trustees average bank bankrupt bankruptcy act bankruptcy law bankruptcy legislation cent had assets charge cities claims clause clerks commissions committee composition Congress corporations court debtor December 15 delay district dividend Donovan report duties English law examination expense failure filing fees fiscal year 1930 fraudulent garnishments granted inquiry insolvent interest involuntary proceedings judge less liabilities liquidation Loan companies meeting of creditors ment merchants months National Association no-asset Owes paid payments period permit persons practice present proposed amendments proxy holders receiver retail rupt ruptcy Russell Sage Foundation salaries schedules secured creditors small loans solicitation statistics statute steadily employed submitted suspended tion United States attorneys unsecured debts voluntary wage earners Yale Law School
Popular passages
Page 50 - The power of establishing uniform laws of bankruptcy is so intimately connected with the regulation of commerce, and will prevent so many frauds where the parties or their property may lie or be removed into different States, that the expediency of it seems not likely to be drawn into question.
Page 91 - ... corporation or corporations, for cash, or in exchange for existing securities, or in satisfaction of claims or rights, or for other appropriate purposes...
Page 75 - ... in contemplation of the filing of a petition by or against him, pay money or transfer property to an attorney and counselor at law, solicitor in equity, or proctor in admiralty for services to be rendered, the transaction shall be re-examined by the court on petition of the trustee or any creditor and shall only be held valid to the extent of a reasonable amount to be determined by the court, and the excess may be recovered by the trustee for the benefit of the estate.
Page 92 - The judge shall confirm a composition if satisfied that (1) it is for the best interests of the creditors ; (2) the bankrupt has not been guilty of any of the acts or failed to perform any of the duties which would be a bar to his discharge; and (3) the offer and its acceptance are in good faith and have not been made or procured except as herein provided, or by any means, promises, or acts herein forbidden.
Page 93 - ... from its debts and liabilities, except such as may consistently with the provisions of the plan be reserved...
Page 91 - ... the rights of creditors generally, or of any class of them, secured or unsecured, either through the issuance of new securities of any character or otherwise...
Page 117 - ... collect and reduce to money the property of the estates for which they are trustees, under the direction of the court, and close up the estate as expeditiously as is compatible with the best interests of the parties in interest...
Page 74 - Shall wilfully neglect to perform any of the duties required of him by this act, shall...
Page 92 - ... shall provide for any class of creditors which is affected by and does not accept the plan by the two-thirds majority in amount required under this chapter, adequate protection for the realization by them of the value of their claims against the property...
Page 92 - ... may allow a reasonable compensation for the services rendered and reimbursement for the actual and necessary expenses incurred in connection with the proceeding and the plan by officers, parties in interest, depositaries, reorganization managers and committees or other representatives of creditors or stockholders, and the attorneys or agents of any of the foregoing and of the debtor...