Page:United States Statutes at Large Volume 52.djvu/958

 52 STAT.] 75TH CONG. , 3D SESS. -CH. 575-JUNE 22, 1938 "(4) 'executory contracts' shall include unexpired leases of real property; '(5) 'creditors' shall mean the holders of claims; "(6) 'debtor' shall mean a person, other than a corporation as defined in this Act, who could become a bankrupt under section 4 of this Act, who files a petition under this chapter and who is the legal or equitable owner of real property or a chattel real which is security for any debt, but shall not include a person whose only interest in property proposed to be dealt with by the arrangement is a right to redeem such property from a sale had before the filing of such petition; "(7) 'debts' shall include all claims; "(8) 'indenture trustee' shall mean a trustee under a mortgage, deed of trust, or indenture, pursuant to which there are securities outstanding, other than voting trust certificates, constituting debts against a debtor or debts secured by a lien upon real property or a chattel real of which such debtor is the legal or equitable owner; and "(9) 'petition' shall mean a petition filed under this chapter proposing an arrangement by a debtor. "SEC. 407. Creditors or any class thereof shall be deemed to be 'affected' by an arrangement only if their or its interest shall be materially and adversely affected thereby. In the event of contro- versy, the court shall after hearing upon notice summarily determine whether any creditor or class is so affected. "ARTICLE III--JURISDICTION, POWERs, AND DUTIES OF T'E COURT "SEC. 411. Where not inconsistent with the provisions of this chapter, the court in which the petition is filed shall, for the pur- poses of this chapter, have exclusive jurisdiction of the debtor and his property, wherever located. "SEC. 412. Where not inconsistent with the provisions of this chapter, the jurisdiction, powers, and duties of the court shall be the same- "(1) where a petition is filed under section 421 of this Act, as if a decree of adjudication had been entered in the bankruptcy proceed- ing at the time the petition under this chapter was filed; and "(2) where a petition is filed under section 422 of this Act, as if a voluntary petition for adjudication in bankruptcy had been filed and a decree of adjudication bad been entered at the time the petition under this chapter was filed. "SEC. 413. Upon the filing of a petition, the court may, in addi- tion to the jurisdiction, powers, and duties hereinabove and else- where in this chapter conferred and imposed upon it- "(1) permit the rejection of executory contracts of the debtor, upon notice to the parties to such contracts and to such other parties in interest as the court may designate; "(2) upon such notice as the court may prescribe and upon cause shown, authorize the trustee or debtor in possession to lease or sell any property of the debtor, whether real or personal, upon such terms and conditions as the court may approve; "(3) whenever under this chapter the court is required or per- mitted to fix a time for any purpose, the court may upon cause shown extend such time. "SEC. 414 . The court may, in addition to the relief provided by section 11 of this Act and elsewhere under this chapter, enjoin or stay until final decree the commencement or continuation of suits against a debtor and may, upon notice for cause shown, enjoin or 917 "Executory c o n - tracts. " " Creditors. " "Debtor." Ante, p. 845. "Debts." "Indenture trus- te, " "Petition." Creditors "affected" by an arrangement. Jurisdiction, powers, and duties of court. Post, p. 918. Post, p. 918. Power to enjoin or stay certain suits. Ante, p. 849.

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