State Insolvent Laws; A Compilation of the Laws on Insolvency of the States and Territories of the United States and Canada in Force November 1, 1878

State Insolvent Laws; A Compilation of the Laws on Insolvency of the States and Territories of the United States and Canada in Force November 1, 1878

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1879 edition. Excerpt: ...to be chosen by him and the other party to the controversy; and may under such direction compound and settle any such controversy by agreement with the other party as he thinks proper and most for the interest of the creditors. 54. ( 54.) When it appears to the satisfaction of the judge that the title to any portion of an estate which has come into possession of the assignee is in dispute, and that the property is of a perishable nature, or liable to deteriorate in value, he may, on the petition of the assignee, and after such notice to the claimant, his.agent, or attorney, as the judge 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 considered the measure of the value of the property in any suit or controversy between the parties. But this provision shall not prevent the recovery of the property from the possession of the assignee by action of recommenced at any time before the judge orders the sale. 66. ( 55.) When an assignee has received from the estate assets sufficient to pay fifty per cent of the debts and claim proved against it, he shall certify the fact and render his accounts therefor to the judge, and when he has received twenty-five per cent, more from the assets he shall in like manner certify and render his accounts therefor, he shall also certify and render his accounts at any time when required by the judge. 56. ( 56.) At a meeting called by order of the judge in his discretion for the purpose, and which shall be called upon the application of a majority of the creditors either in number or value, the creditors may, with the consent of the judge, remove any assignee...show more

Product details

  • Paperback
  • 189 x 246 x 13mm | 435g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 123656846X
  • 9781236568465