Page:United States Statutes at Large Volume 48 Part 1.djvu/826

 800 73d C ONGRESS. SESS. II. CH. 345 . MAY 24, 1934 . Gr oup rep resenta- organizat ion, grou p, or ind ividual s hall assu me to act for or o n behalf t con of creditors, such committee, organization, group, or individual shall first file with the court in which the proceeding is pending a list of the creditors represented by such committee, organization, group, or individual, together with a statement of the amount, class, and charact er of the in debted ness h eld by each s uch cr editor, and shall accompa ny the same with a copy of the contra ct or agreem ent en tered into be tween such c ommitt ee, or ganiza tion, g roup, or ind ividua l and the credi tors repr esented b y it or t hem, whic h contrac ts shall disclose all compensation to be received directly or indirectly by such agent or committee. Procedure when peti- " (c) Upon approving the petition or at any time thereafter the judge tio n approved . Notice to creditors . (1) shall require the taxing district to give such notice as the order Publication of hear- ing. may direct to creditors, and to cause publication, to be made at least h old . and purpose of once a we ek for th ree succe ssive wee ks, of a hearing, to be hel d within ninety days after the approval of the petition for the purpose of considering the plan of readjustment filed with the petition and of any changes therein or modifications thereof which may be proposed ; Time extension when (2) if a plan of readjustment is not accepted and approved within readjustment plan not accepted . such reasonable period as the judge may fix, or, if accepted and appro ved, is no t co nfirm ed, t he j udge may, after hea ring, eith er extend such period not exceeding one yea r from the date of the filing of the petition, or dismiss the proceedings as the interests of Provisos . the creditors may equitably require : Provided, however, That if a If plan not accepted within year. plan shall not be accepted and approved within one year from the . Fu rther exten sion date of the filing of the petition, the judge, after hearing, may upon consent of major- ity creditors. continue the proceeding for not exceeding two years from the date of the filing of the petition, with the written consent of creditors of the taxing district holding more than one half in amount of all T axing dis tric t to claims affected by the plan ; (3) shall require the taxing district furnish necessary data. at such time or times as the judge may direct, and in lieu of the schedules required by secti on 7 of t his Act, to file s uch sched ules and submit such other information as may be necessary to disclose the conduct of the affairs of the taxing district and the fairness of any and Creditor clims, t g e e proposed plan ; (4) shall determine a reasonable time and manner in which the claims and interests of creditors may be filed or evi- denced, and, for the purposes of the plan and its acceptance, the division of creditors into classes according to the nature of their respective claims and interests ; and may, for the purposes of such classification. classification, classify as an unsecured claim the amount of any secured claim in excess of the value of the security thereof, such Vol. 30, p. 560. value to be determined in accordance with the provisions of chapter Executory contracts 57, claus e (h), of this Act ; (5) may, with the authorized written of taxing district, rejec- tion authorized. approval of the taxing district, direct the rejection of contracts of Notice of determine- tions the taxing district executory in whole or in part ; (6) shall cause . reasonable notice of such determination and of all hearings for the consideration of the proposed plan, or the dismissal of the pro- ceedings, or the allowances of fees or expenses, to be given creditors inspe ctio n of die- by publication or otherwise ; (7) may require the taxing district to trines files, etc ' open its books, records, and files to the inspection of any creditor of Allowances for serv- the taxing district during reasonable business hours ; (8) may allow ices and expenses. a reasonable compensation for the services rendered and reimburse- ment for the actual and necessary expenses incurred in connection with th e proc eeding and t he pay ment o f speci al mas ters, readju stment managers and committees or other representatives of creditors of the taxing district, and the attorneys or agents of any of the fore- Appeals from orders . going ; and appeals may be taken, from the orders making such allowa nces, to the circu it cou rt of appeals for t he cir cuit i n whic h the pr oceedi ng und er thi s chap ter is pendin g, ind epende ntly o f othe r
 * requirements.