Page:United States Statutes at Large Volume 50 Part 1.djvu/683

 658 7 5TH CO NGRE SS, 1ST SESSION-CH. 6 57- AUGU ST 16, 193 7 is made i n the plan for the prot ection of t he interest s, claims, or lien of such c reditors or class of cr editors. Confirmation of "(e) At t he con clusi on of the h earin g the judge shall make writ ten plan, etc., by court . Fi Findings required . findings of fact and his conclusions of law thereon, and shall enter an int erloc utory decre e con firmi ng the plan if sa tisfi ed th at (1) it is fair, eq uitable, an d for the b est interes ts of the cr editors and does not discriminate unfairly in favor of any creditor or class of credi- tors ; (2) complies with the provisions of this chapter ; (3) has been accepted and approved as required by the provisions of subdivision (d) of this section ; (4) all amounts to be paid by the petitioner for services or expenses incident to the composition have been fully disclosed and are reasonable ; (5) the offer of the plan and its acceptance are in good faith ; and (6) the petitioner is authorized by law to take all action necessary to be taken by it to carry out the plan. If not so satisfied, the judge shall enter an order dismissing the proceeding. Chan ges and modi- "Bef ore a plan is confir med chang es and mod ification s may be 8cations allowed. f y made therein, with the approval of the judge after hearing upon Rights and acts of such notice to creditors as the judge may direct, subject to the right creditor . of any creditor who shall previously have accepted the plan to with- draw his acceptance, within a period to be fixed by the judge and after such notice as the judge may direct, if, in the opinion of the judge, the change or modification will be materially adverse to the interest of such creditor, and if any creditor having such right of withdr awal shall not w ithdr aw wi thin s uch p eriod, he s hall be dee med Conformity with to have accepted the plan as changed or modified : Provided, however, provisions of chapter . That the plan as changed or modified shall comply with all the pr o- visions of this chapter and shall have been accepted in writing by Appeal . the petitioner. Either party may appeal from the interlocutory Running of time decree as in equity cases. In case said interlocutory decree shall suspended on appeal_ prescribe a time within which any action is to be taken, the running of such time shall be suspended in case of an appeal until final deter- mination th ereof. In case said decree is affirmed, the judge may grant such time as he may deem proper for the taking of such action. Confirmatory de- "(f) If an interlocutory decree confirming the plan is entered tree binding upon all creditors . a s herein provided, the plan and said decree of confirmation shall become and be binding upon all creditors affected by the plan, if within the time prescribed in the interlocutory decree, or such addi- tional time as the judge may allow, the money, securities, or other consideration to be delivered to the creditors under the terms of the plan shall have been deposited with the court or such disbursing agent as the cour t may appoint or shall otherwise be made available for the creditors . And thereupon the court shall enter a final decree determining that the petitioner has made available for the creditors affected by the plan the consideration provided for therein and is discharged from all debts and liabilities dealt with in the plan except as provided therein, and that the plan is binding upon all creditors affected by it, whether secured or unsecured, and whether or not their claims have been filed or evidenced, and, if filed or evidenced, whether or not allowed, including creditors who have not, as well as those who have, accepted it. Certified copy of "(g) A certified copy of the final decree, or of any other decree or decree or order as evidence of jurisdic- order entered by the court or the judge thereof, in a proceeding under tion of court . this chapter, shall be evidence of the jurisdiction of the court, the regularity of the proceedings, and the fact that the decree or order Or der dir ect ing was made. A certified copy of an order providing for the transfer ef- fec t of. transfer, ef- of any property dealt with by the plan shall be evidence of the trans-