Page:United States Statutes at Large Volume 52.djvu/906

 52 STAT.] 75TH CONG., 3D SESS. -CH. 575-JUNE 22, 1938 net total of proceeds realized, the average amount realized per case, the amount of the administration expenses, total and classified, and the percentages of such total and classified expenses as compared with the total net realization, the total amounts paid to creditors of all classes and the amounts paid to each class, the percentages in a com- parison of the total amount and the amount of each class with such total net realization, and the amount of the obligations owing to creditors in total and by classes and the amounts and percentages paid on such total and to such classes out of such net realization. Like information relative to cases arising under the provisions of chapters VIII, IX, X, XI, XII, and XIII of this Act shall be compiled and included in such tables. "CHAPTER VI-CREDITORS "SEC. 55 . MEETINGS OF CREDITORS.- a. The court shall cause the first meeting of the creditors of a bankrupt to be held not less than ten nor more than thirty days after the adjudication, at the county seat of the county in which the bankrupt has had his principal place of business, resided or had his domicile; or if that place would be manifestly inconvenient as a place of meeting for the parties in interest, or if the bankrupt is one who does not do business, reside, or have his domicile within the United States, the court shall fix a place for the meeting which is the most convenient for parties in interest. If such meeting should by any mischance not be held within such time, the court shall fix the date, as soon as may be thereafter, when it shall be held. "b. At the first meeting of creditors, the judge or referee shall preside and, before proceeding with other business, may allow or disallow the claims of creditors there presented, and shall publicly examine the bankrupt or cause him to be examined, and may permit creditors to examine him. "c. The creditors shall at each meeting take such steps as may be pertinent and necessary for the promotion of the best interests of the estate and the enforcement of this Act. "d. The court shall call a meeting of creditors whenever one- fourth or more in number of those who have proved their claims shall file a written request to that effect; if such request is signed by a majority of such creditors, which number represents a majority in amount of such claims, and contains a request for such meeting to be held at a designated place, the court shall call such mleeting at such place within thirty days after the date of the filing of the request. "e. Whenever the affairs of the estate are ready to be closed a final meeting of creditors shall be ordered: Providced, hooever, That a no-asset case may be closed without ordering such final meeting. "SEC. 56 . VOTERS AT MEETINGS OF CREDITORS. - a. Creditors shall pass upon matters submitted to them at their meetings by a majority vote in number and amount of claims of all creditors whose claims have been allowed and who are present, except as herein otherwise provided. "b. Except as otherwise provided in this Act, creditors holding claims which are secured or have priority shall not in respect to such claims be entitled to vote at creditors' meetings, nor shall such claims be counted in computing either the number of creditors or the amount of their claims, unless the amounts of such claims exceed the values of such securities or priorities, and then only for such excess. 865 47 Stat. 1467,48 Stat. 798. Post, pp. 883, 905, 916, 930. Chapter VI-Credi- tors. Meetings; time and place. Presiding officer, powers. Creditors, duties, etc. Call of meeting by court. Final meeting. Proviso. No-asset cases. Voters at meetings of creditors. Secured, etc., credi- tors. 36525°-38 -55

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