Page:United States Statutes at Large Volume 52.djvu/959

 PUBLIC LAWS-CH. 575-JUNE 22, 1938 Designation of time, form, etc., of giving notice. Jurisdiction of ap- pellate courts. Petition and stay. Petition by debtor in pending proceed- ing. If no proceeding pending. Contents of peti- tion. Accompanying pa- pers, etc. If pending proceed- ing, effect of petition on adjudication, etc. If no pending pro- ceeding, ing of bond, etc. Failure to comply with order for in- demnity. Stay of proceedings to enforce liens. Pmroceedings subse- quent to filing. Reference of pro- ceeding to referee. Appointment of trustee. stay until final decree any act or the commencement or continuation of any proceeding to enforce any lien upon any property of a debtor. "SEC. 415. Whenever notice is to be given under this chapter, the court shall designate, if not otherwise specified hereunder, the time within which, the persons to whom, and the form and manner in which the notice shall be given. Any notice to be given under this chapter may be combined, whenever feasible, with any other notice or notices under this chapter. "SEC. 416. Where not inconsistent with the provisions of this chapter, the jurisdiction of appellate courts shall be the same as in a bankruptcy proceeding. "ARTICLE IVT-PETITION AND STAY "SEC. 421. A debtor may file a petition under this chapter in a pending bankruptcy proceeding before his adjudication. "SEC. 422. If no bankruptcy proceeding is pending, a debtor may file an original petition under this chapter with the court which would have jurisdiction of a petition for his adjudication. "SEC. 423. A petition filed under this chapter shall state that the debtor is insolvent or unable to pay his debts as they mature, and shall set forth the terms of the arrangement proposed by him. "SEC. 424. The petition shall be accompanied by- "(1) a statement of the executory contracts of the debtor; "(2) the schedules and statement of affairs, if not previously filed; and "(3) payment to the clerk of the fees, if not already paid, required to be collected by the clerk under this Act. "SEc. 425. A petition filed under section 421 of this Act shall not act as a stay of adjudication or of the administration of the estate, but the court may, upon application of the debtor and upon notice to all parties in interest, including the creditors' committee and the receiver or trustee, if any such has been appointed, grant a stay of adjudication or of the administration of the estate upon such terms as may be proper for the protection of the estate. "SEC. 426. Where a petition is filed under section 422 of this Act, the court may, upon hearing and after notice to the debtor and to such other persons as the court may direct, order the debtor to file a bond or undertaking, with such sureties as may be approved by the court and in such amount as the court may fix, to indemnify the estate against subsequent loss in the event of the entry of an order of adjudication under this chapter. "SEC. 427 . Upon failure of the debtor to comply with such order for indemnity, as provided in section 426 of this Act, the court may after hearing upon notice to the debtor, the creditors' committee, if any has been appointed, and to such other persons as the court may direct, either adjudge the debtor a bankrupt and direct that bank- ruptcy be proceeded with pursuant to the provisions of this Act or dismiss the proceedings under this chapter, as in the opinion of the court may be in the interest of the creditors. "SEc. 428. Unless and until otherwise ordered by the court, upon hearing and after notice to the debtor and all other parties in interest, the filing of a petition under this chapter shall operate as a stay of any act or proceeding to enforce any lien upon the real property or chattel real of a debtor. "ARTICLE V-PRocEEDINGS SUBSEQUENT TO FnLNG OF PEmTON "SEc. 431. The judge may refer the proceeding to a referee. "SEC. 432. The court may, upon the application of any party in interest, appoint a trustee of the property of the debtor. 918 [52 STAT.

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