Page:United States Statutes at Large Volume 52.djvu/954

 52 STAT.] 75TH CONG. , 3D SESS.-CH. 575-JUNE 22, 1938 application for confirmation is not filed within the time fixed by the court, or if confirmation of the arrangement is refused, the court shall- "(1) where the petition was filed under section 321 of this Act, enter an order dismissing the proceeding under this chapter and directing that the bankruptcy be proceeded with pursuant to the provisions of this Act; or "(2) where the petition was filed under section 322 of this Act, enter an order, upon hearing after notice to the debtor, the creditors, and such other persons as the court may direct, either adjudging the debtor a bankrupt and directing that bankruptcy be proceeded with pursuant to the provisions of this Act or dismissing the pro- ceeding under this chapter, whichever in the opinion of the court may be in the interest of the creditors. "SEC. 377. Where the court has retained jurisdiction after the confirmation of an arrangement and the debtor defaults in any of the terms thereof or the arrangement terminates by reason of the happening of a condition specified in the arrangement, the court upon hearing after notice to the debtor, the creditors, and such other persons as the court may direct shall- "(1) where the petition has been filed under section 321 of this Act, enter an order dismissing the proceeding under this chapter and adjudging the debtor a bankrupt, if not previously so adjudged, and directing that the bankruptcy be proceeded with pursuant to the provisions of this Act; or "(2) where the petition has been filed under section 322 of this Act, enter an order either adjudging the debtor a bankrupt and directing that bankruptcy be proceeded with pursuant to the provi- sions of this Act or dismissing the proceeding under this chapter, whichever in the opinion of the court may be in the interest of the creditors. "SEC. 378. Upon the entry of an order directing that bankruptcy be proceeded with- '"(1) in the case of a petition filedtnder section 321 of this Act, the bankruptcy proceeding shall be deelmed reinstated and thereafter shall be coindlcted, so far as possible, as if sclh petition ulnder this chapter had not bell filed; and "(2) in the case of a pettiion filed uIlder section 322 of this Act, the proceed(ing shall be conducted, so far as possible, in tlhe same manner and with like effect as if a voluntary petition for adjudica- tion in bankruptcy had been filed and a decree of adjudication had been entered on the day wahe the petition under this chapter was filed; and the trustee nominated by creditors under this chapter shall be appointed by the court, or, if not so nominated or if the trustee so nominated fails to qualify within five days after notice to him of the entry of such order, a trustee shall be appointed as provided in section 44 of this Act. "SEc. 379. No adjudication shall be entered under this chapter against a wage earner or farmer unless such person shall in writing file with the court consent to the adjudication. "SEC. 380. TUon the dismissal of a proceeding originated by a petition filed under section 322 of this Act, the court shall enter a nal decree discharging the receiver, if any, and closing the estate. "AaTICLE XI-ARRANGEME-XTS, WHEN SrE ASIDE OR MODIFEED "SEC. 386. If, upon the application of parties in interest filed at any time within six months after an arrangement has been confirmed, it shall be made to appear that fraud was practiced in the procuring 36525e°--8 - --. 8 913 Ante, p. 907. Ante, p. 907. Default by debtor after confirmation; termination. Ante, p. 907. Ante, p. 907. Entry of order di- recting bankruptcy to be proceeded with. Ante, p. S60. Wage earners and farmers, consent to adjudication. Final decree. Ante, p. 907. Arrangements, when set aside or modified. Fraud in procuring; powers of court.

�