Page:United States Statutes at Large Volume 81.djvu/550

 516

52 Stat. 866. 11 USC 9 3.

Repeals. 52 Stat. 910; 66 Stat. 434.

PUBLIC LAW 90-158-NOV. 28, 1%7

[81 STAT.

of this section and claims arising from rejection of execntory contracts under subdivision b of this section may be filed within such further time as the court may direct. Except as otherwise provided in this section, claims against the debtor in possession or trustee shall be proved and filed in the manner provided in section 57 of this Act. "d. Claims directed to be filed under subdivision c of this section but not filed within the time therein provided shall not be allowed and shall be barred, and the debtor in possession or trustee shall be forever discharged from any liability with respect to such claims. When all claims which have been duly allowed have been paid in full, claims directed to be filed but not tiled within the time prescribed pursuant to subdivision c and claims not allowable under paragraph (4) of subdivision a of this section because not filed within the time prescribed therein may nevertheless be filed within such time as the court may fix or for cause shown extend and, if duly proved, shall be allowed against any surplus remaining in such case." SEC. 5. Sections 354 and 459 of the Bankruptcy Act (11 U.S.C. 754 and 859) are hereby repealed. Approved November 28, 1967. Public Law 90-158

November 28, 1967

[H. R. 2518]

Bankruptcy. 5 2 Stat. 908; 72 Stat. 8 2 1. Disbursing agents, designation.

C r e d i to r s ' committee, election. 66 Stat. 432.

AN

ACT

rp^ amend sections 837 and 338 of the Bankruptcy Act and to add new section 339.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assenwled^ That section 337 of the Bankruptcy Act, as amended (11 U.S.C. 737), is amended to read as follows: "SEC. 337. At such meeting, or at any adjournment thereof, the judge or referee shall, after the acceptance of the arrangement— " (1) designate the receiver or trustee, if any, or the debtor or a person specially appointed as disbursing agent to distribute, subject to the control of the court, the consideration, if any, to be deposited by the debtor; and, if a disbursing agent is so appointed, require such person to give bond with a surety to be approved by the court in such amount as the court shall fix, and fix the amount or rate of his compensation, not in excess of the compensation allowable to a receiver serving as a mere custodian under this Act; " (2) fix a time within which the debtor shall deposit, in such place as shall be designated by and subject to the order of the the court, the consideration, if any, to be distributed to the creditors, the money necessary to pay all debts which have priority, unless such priority creditors shall have waived their claims on such deposit, or consented in writing to any provision of the arrangement for otherwise dealing with such claims, and the money necessary to pay the costs and expenses of the proceeding; and "(3) fix a time for the filing of the application to confirm the arrangement and for a hearing on the confirmation thereof or any objections to the confirmation, unless such times have already been named in the notice of the meeting or unless all creditors affected by the arrangement have accepted it." SEC. 2. Section 338 of the Bankruptcy Act, as amended (11 U.S.C. 738), is amended to read as follows:

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