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PUBLIC LAW 85-733-AUG. 23, 1958

[72 S T A T.

be proceeded with pursuant to the provisions 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: Provided, however, That an order adjudging the debtor a bankrupt may be entered without such hearing upon the debtor's consent." 11 USC 786. SEC. 9. Immediately after section 386 of the Bankruptcy Act add a new section as follows: and'^tirlti<fni°"* "SEC. 387. Where an arrangement which has been confirmed proprocedure. ' vides for an extension of time for payment in whole or in part of the debts affected by the arrangement, and the court has retained juris11 USC 768. diction pursuant to section 368 of this Act— "(1) A proposal to alter or modify the arrangement by changing the time of payment of deferred installments of the consideration, or by reducing the amount of such payments, or to accomplish both of such alterations or modifications, may be filed by the debtor with leave of court after the arrangement has been confirmed, but before the deferred consideration has been fully paid, or if such deferred consideration is represented by negotiable promissory notes, then before such notes have been delivered to the creditors. "(2) The proposal to alter or modify the arrangement shall set forth the proposed alterations or modifications, shall state whether the deferred payments provided for by the arrangement are evidenced by negotiable promissory notes and, if so, whether such promissory notes have been delivered to the creditors, and the reasons why such alterations or modifications are proposed. The proposal shall be accompanied by a list of the names and addresses of all creditors who have extended credit to the debtor since the arrangement was confirmed. "(3) If the court permits the proposed alterations or modifications to be filed, it shall call a meeting of the creditors on at least ten days' written notice to the debtor, the creditors and other parties in interest, including creditors who extended credit during the proceeding or after the arrangement was confirmed, and shall transmit with such notice a copy of the alterations or modifications proposed. "(4) If at such meeting the arrangement as altered or modified 11 USC 762. is accepted as required for confirmation by section 362 of this Act by the creditors affected by such alteration or modification, 11 USC 766. the court, subject to the provisions of section 366 of this Act, shall confirm the arrangements as altered or modified." Approved August 23, 1958.

Public Law 85-733 August 23, 1958 [H. R. 8478]

62 Stat. 390.

AN ACT imending the Hawaiian Homes Commission Act to permit the establishment of a post office on Hawaiian homelands, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of Amenca in Congress assembled, That section 207 (c)(1)(A) of the Hawaiian Homes Commission Act, 1920 (48 xj. S. C. 701 (c)(1)(A)), i s amended to read as follows: " (A) churches, hospitals, public schools, post offices, and other improvements for public purposes;". Approved August 23, 1958.

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