Page:United States Statutes at Large Volume 66.djvu/483

 66

STAT.]

m

PUBLIC LAW 4 5 6 - J U L Y 7, 1952

SEC. 50. Subdivision a of section 656 of such Act, as amended, is amended to read as follows: "a. The Court shall confirm a plan if satisfied that— "(1) the provisions of this chapter have been complied with; "(2) it is for the best interests of the creditors and is feasible; " (3) the debtor has not been guilty of any of the acts or failed to perform any of the duties which would be a bar to the discharge of the bankrupt; and "(4) the proposal and its acceptance are in good faith and have not been made or procured by any means, promises, or acts forbidden by this Act. "Confirmation of a plan shall not be refused solely because the interest of a debtor will be preserved under the plan." SEC. 51. Section 660 of such Act, as amended, is amended to read as follows: "SEC. 660. Upon compliance by the debtor with the provisions of the plan and upon completion of all payments to be made thereunder, the court shall enter an order discharging the debtor from all his debts and liabilities provided for by the plan, but excluding such debts as are not dischargeable under section 17 of this Act held by creditors who have not accepted the plan." SEC. 52. Section 661 of such Act, as amended, is amended to read as follows: "SEC. 661. If at the expiration of three years after the confirmation of a plan the debtor has not completed his payments thereunder, the court may nevertheless, upon the application of the debtor and after hearing upon notice, if satisfied that the failure of the debtor to complete his payments was due to circumstances for which he could not be justly held accountable, enter an order discharging the debtor from all his debts and liabilities provided for by the plan, but excluding such debts as are not dischargeable under section 17 of this Act held by creditors who have not accepted the plan." SEC. 53. The introductory clauses of section 666 of such Act, as amended, are amended to read as follows: "SEC. 666. If the statement of the executory contracts and the schedules and statement of affairs, as provided by paragraph (1) of section 624 of this Act, are not duly filed, or if a plan is not proposed at the meeting of creditors or within such further time as the court may fix, or if the plan is withdrawn or abandoned prior to its acceptance, or if the plan is not accepted at the meeting of creditors or within such further time as the court may fix, or if the deposit required under this chapter and under the plan is not made or the application for confirmation is not filed within the time fixed by the court, or if confirmation of the plan is refused, or if after confirmation, a debtor defaults in any of the terms of the plan, or if the plan terminates by reason of the happening of a condition specified in the plan, the court shall—." SEC. 54. Chapter X III of such Act, as amended, is amended by inserting in its numerical order the following section: "SEC. 669. Where, after the confirmation of a plan, the court shall enter an order directing that bankruptcy be proceeded with— " (1) the trustee shall, upon his appointment and qualification, be vested with the title to all the property of the debtor as of the date of the entry of the order directing that bankrupcy be proceeded with; "(2) the unsecured debts incurred by the debtor after the confirmation of the plan and before the date of the entry of the final order directing that bankruptcy be proceeded with shall, unless and except as otherwise provided in the plan or in the

n use lose. Confirmation o f plan.

11 USC 1060. D i s c h a r g e of debtor.

11 USC 35. 11 USC 1061.

11 USC 35. 11 USC 1066. Abandonment of plan, etc. 11 USC 1024.

l l U S e c h. 13. eonf irmation o f plan.

�