of credit rs and property have been previously filed at with ... ... Esq., the referee in bankruptcy in charge, and who was examined in open court herein 19...,94 does hereby on the day of offer a composition at .... per cent (....%) of the claims of his creditors, allowed or to be allowed, except those entitled to priority, in this proceeding. 95 This offer is to be effective only after the examination of the undersigned in open court, as provided in § 12-a of the bankruptcy law of 1898. Dated, State of County of City of On this day of .... 19..., the abovenamed ... appeared before me and acknowledged the execution of the foregoing offer of composition. Cross-references.-This is the first step in composition. The practice suggested by Form No. 60 applied under the law of 1867, but does not under that of 1898. See, generally § 12; General Orders XII; XXXII. Form No. 61, together with Forms Nos. 348, 353, 355, 357, 358, 360, 361, and 362, are thought to outline a complete practice on this increasingly important branch of bankruptcy law. For substitute for Forms Nos. 62 and 63, see Form No. 361. Offer.-Bankrupt may offer, but not until schedules have been filed; and may offer at first meeting of creditors. In re Hilborn, 4 Am. B. R. 741, 104 Fed. 866. In re Fox (D. C., N. Y.), 34 Am. B. R. 812, 222 Fed. 135. In "open court," meaning of. In re Bloodworth-Sternbridge Co., 24 Am. B. R. 156, 178 Fed. 372. Bankrupt may offer after his discharge when effect. ia the same as an offer to purchase the assets of the estate. In re Spiller, 36 Am. B. R. 399. Amended offer. Notice to creditors. In re Kinnane Co., 33 Am. B. R. 243, 217 Fed. 488. Acquiring money for payment of composition by use of bankrupt's credit. Zavelo v. Reeves (U. S. Sup.), 29 Am. B. R. 493, 227 U. S. 625, 57 L. Ed. 676, aff'g 171 Ala. 401. 94. If the examination has not been held but is to be, specify the date and then use the paragraph referred to in foot-note 20. 95. Omit this if the bankrupt has already been examined. Form No. 345 PETITION FOR APPOINTMENT OF REFEREE AND STAYING ADJUDICATION (Hagar and Alexander's Bankruptcy Forms [2d Ed.], No. 292.) To the District Court of the United States for the District of The petition of 1. That he is the alleged bankrupt herein. 2. That on the ........ day of ... respectfully alleges and shows: 19..., a petition creditors of your in involuntary bankruptcy was filed in this Court by... petitioner praying that he be adjudicated a bankrupt and on same day a subpoena was issued. 3. That petitioner's time to answer such petition has not yet expired. 4. That petitioner is about to offer terms of composition to his creditors and such proposed composition has been accepted by a 'substantial number of his creditors in number and amount and such offer is in good faith. 5. That petitioner has filed a schedule of his property and list of his creditors as required by the Act. Wherefore he prays for an order referring this proceeding to a referee for the purpose of calling a meeting of his creditors to consider the offer of composition, and that all proceedings upon the adjudication be stayed until the offer of composition has been either confirmed or rejected. [Verification.] Petitioner. Form No. 346 ORDER APPOINTING REFEREE AND STAYING ADJUDICATION At a Stated Term of the United States District Upon reading and filing the annexed petition of verified the ........ day of .... 19..., upon all the papers and proceedings had herein, and on motion of ., attorney for the alleged bankrupt, it is Ordered, That Esq., be and he hereby is appointed referee for the purpose of calling a meeting of creditors to consider a proposed offer of composition to be made by the alleged bankrupt herein, and to do each and every other thing necessary in and about carrying out the said offer of composition; and it is Further ordered that all proceedings upon an adjudication herein be stayed until the said offer of composition be either confirmed or rejected by this court. D. J. Form No. 347 NOTICE TO CREDITORS (Hagar and Alexander's Bankruptcy Forms [2d Ed.], No. 204.) United States District Court, for the District of 19..., Notice is hereby given that the above-named bankrupt has filed his petition, verified the ........ day of setting forth among other things that he has offered terms of composition, which terms have been accepted in writing by a majority in number of all creditors whose claims have been allowed, and which number represents a majority in amount of such claims, that the consideration to be paid by the bankrupt to his creditors and the money necessary to pay all debts which have priority and the costs of the proceedings have been duly deposited in a duly designated depository, and asking that said composition may be confirmed by the court. Notice is hereby given that all creditors and other persons are ordered to attend at the hearing before the Honorable Judge of the United States District Court in the United States Court House, on 19..., at ...... M., and then and there show cause, if any they have, why the prayer of said petitioner should not be granted, and also to attend the examination of the bankrupt thereon. Dated, 19... Referee in Bankruptcy. No. Street, City of [Annex proof of publication as on discharge proceeding.] Form No. 348 ACCEPTANCE OF COMPOSITION In the District Court of the United States for the The undersigned creditors, whose signatures, residences, claims, and the amount at which the same have been allowed, are hereafter set out, do hereby accept the offer of composition at per cent. (......%) made herein by named bankrupt, on the day of the above 19...; this96 acceptance, however, to be effective only after such bankrupt shall be examined in open court. |