Page:United States Statutes at Large Volume 47 Part 1.djvu/1500

 1476 Powers, etc. Vol. 30, p. 557 . Fix amount of bond, etc. Appoint substitute trustees . Compensation. Authorize issue of cer- tificates for cash, etc Require de btor to file additional schedules. Vol. 30, p. 54 8- Determine time for filing claims. Notices to be given. Dismissal of proceed- ings for cause shown . Allow compensation to proper persons. Reference to special masters . 72d CONGRESS. SESS. II. CH. 204. MARCH 3, 1933 . with the provisions of this section, shall exercise all the powers of a trustee appointed pursuant to section 44 or any other section of this Act, and, subject to the judge's control and the jurisdiction of the commissio n as provi ded by the Interstate Commerce Act as amended, shall have the power to operate the business of the railroad corporation ; (2) shall fix the amount of the bond of such trustee or trustees and require the debtor, the trustee, or trustees to give such notice as the order may direct to creditors and stockholders and to cause publication thereof to be made at least once a week for two successive weeks of a hearing to be held within thirty days after such appointment, at which hearing or any adjournment thereof the jud ge may make permanent such appointment, or may terminate it and may, in the manner herein provided for the appointment of trus- tees, appoint a substitute trustee or substitute trustees, and in the same manner may appoint an additional trustee or additional trustees, and shall fix the amount of the bond of the substitute or additional trus- tee or trustees ; the trustee or trustees and their counsel shall receive su ch compe nsation as the j udge may allow w ithin a maximum approved by the commission ; (3) may for cause shown, and with the approval of the commissio n, in accordance with section 20 (a) of the Inter state Commerce Act as amended, authorize the trustee or trustees to issue certificates for cash, property, or other consideration approved by the judge, f or such lawful p urposes and upon such ter ms and c ondition s and with such se curity a nd such priority in payme nts over existin g obligations, secured or unsecured, as might in an equity receivership be lawful ; (4) shall require the debtor, at such time or times as the judge may direct and in lieu of the schedules required by section 7 of this Act, to file such schedules and submit such other information as may be necessary to disclose the conduct of the debtor's affairs and the fairness of any proposed plan ; (5) shall determine a reasonable time wit hin whic h the cl aims and interes ts of cre ditors a nd stock - holders may be f iled or evidence d and af ter which no such claim o r interest may participate in any plan except on order for cause shown ; the mann er in wh ich such claims and inte rests may be file d or evi - denced and allowed, and, for the purposes of the plan and its accept- ance, the division of creditors and stockholders into classes according to the nature of their respective claims and interests ; (6), shall cause reasonable notice of such determination, or of the dismissal of the proceedings, or the allowance of fees or expenses, to be given cred- itors and stockholders by publication or otherwise ; (7) if a plan of reorg anizatio n is not propose d or acc epted, or, if pro posed an d accepted, is not confirmed, within such reasonable time as the judge may, u pon c ause shown and a fter c onsid ering any recomm endat ion which has been filed by the commission, allow, may dismiss the pro- ceeding ; (8) may, within such maximum limits as are fixed by the commission, as elsewhere provided in subdivision (f) of this section, allow a reasonable compensation for the services rendered and reim- bursement for the actual and necessary expenses incurred in connec- tion with the proceeding and plan by officers, parties in interest, reorganization managers, and committees or other representatives of creditors or stockholders, and the attorneys or agents of any of the foregoing, and by su ch assistants as the commission with the approval of the judge may specially employ (9) may on his own motion or at the request of the commission refer any matters for consideration and report. either generally or upon specified issues, to one of several special masters who shall have been previously designated to act as special masters in any proceedings under this sectio n by order of any Circuit Court of Ap peals and may allow
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