Page:United States Statutes at Large Volume 52.djvu/927

 PUBLIC LAWS-CH. 575-JUNE 22, 1938 If no banruptcy "SEC. 128. If no bankruptcy proceeding is pending, an original petition may be filed with the court in whose territorial jurisdiction the corporation has had its principal place of business or its prin- cipal assets for the preceding six months or for a longer portion of the preceding six months than in any other jurisdiction. I a subsidiary. "SEC. 129. If a corporation be a subsidiary, an original petition by or against it may be filed either as provided in section 128 of this Act or in the court which has approved the petition by or against its parent corporation. Contents of peti- "SEC. 130. Every petition shall state- . "(1) that the corporation is insolvent or unable to pay its debts as they mature; "(2) the applicable jurisdictional facts requisite under this chapter; "(3) the nature of the business of the corporation; "(4) the assets, liabilities, capital stock, and financial condition of the corporation; "(5) the nature of all pending proceedings affecting the property of the corporation known to the petitioner or petitioners and the courts in which they are pending; "(6) the status of any plan of reorganization, readjustment, or liquidation affecting the property of the corporation, pending either in connection with or without any judicial proceeding- "(7) the specific facts showing the need for relief under this chapter and why adequate relief cannot be obtained under chapter XI of this Act; and "(8) the desire of the petitioner or petitioners that a plan be effected. Creditors' or In- "SEC. 131. A creditors' or indenture trustee's petition shall, in denture trustee's peti- tion, contents. addition to the allegations required by section 130 of this Act, state- "(1) that the corporation was adjudged a bankrupt in a pending proceeding in bankruptcy; or "(2) that a receiver or trustee has been appointed for or has taken charge of all or the greater portion of the property of the corporation in a pending equity proceeding; or "(3) that an indenture trustee or a mortgagee under a mortgage is, by reason of a default, in possession of all or the greater portion of the property of the corporation; or "(4) that a proceeding to foreclose a mortgage or to enforce a lien against all or the greater portion of the property of the corporation is pending; or (5) that the corporation has committed an act of bankruptcy within four months prior to the filing of the petition. g. SEC. 132. The filing of a petition under this chapter shall be accompanied by payment to the clerk of a filing fee of $100 if no bankruptcy proceeding is pending, otherwise $70. Where $100 has been paid and an adjudication is entered under this chapter, $30 thereof shall be distributed by the clerk as in the case of a bank- tg dismised- ruptcy proceeding; but, if the proceeding under this chapter is dismissed and no order of adjudication is entered thereunder, such sum of $30 shall be refunded to the person paying it. and subpen to be "SEC. 133. Upon the filing of a petition by creditors or an indenture served upon debtor. trustee, a copy thereof, together with a subpena returnable within ten days or such longer time as the court for cause shown may have fixed, shall be served upon the debtor, as provided in subdivision a of section A*, p. 81. 18 of this Act for service of a petition and subpena for involuntary bankruptcy. 886 [52 STAT.

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