To Amend the Bankruptcy Act: Hearings Before the Committee on Interstate Commerce, United States Senate, Seventy-sixth Congress First Session, on H. R. 5407, an Act to Amend an Act Entitled "An Act to Establish a Uniform System of Bankruptcy Throughout the United States", Approved July 1, 1898, and Acts Amendatory Thereof and Supplementary Thereto. May 10, 11, and 12, 1939Considers legislation to authorize voluntary rescheduling of debt obligations payments by railroads undergoing bankruptcy reorganization. |
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4-percent bonds agree approved assent August 15 authority Available Net Income Baltimore & Ohio Baltimore and Ohio Bankruptcy Act BERLE bill bonds so deposited Buffalo calendar Canal and Railroad certificates of deposit claims committee Common consent contingent interest convertible bonds CRAVEN debtor director earnings effect equipment filed fixed charges FLETCHER funded debt guaranty interest charges Interstate Commerce Act Interstate Commerce Commission issue jurisdiction lease legislation Lehigh Valley Railroad lien modification or amendment mortgage bonds obligations Ohio Railroad Company operated subsidiaries payable payment Pennsylvania percent petition petitioner plan of adjustment principal amount proceedings proposed provisions public interest pursuant Railway receivership Reconstruction Finance Corporation refunding registered owner hereof reorganization respect roads section 20a section 77 security holders Senator NEELY Senator SHIPSTEAD Senator TOBEY Senator WHITE Series D shares sinking fund special court stockholders thereby thereof tion Trust undersigned Valley Railroad Company York Canal
Popular passages
Page 61 - If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the remainder of the chapter and the application of such provision to other persons not similarly situated or to other circumstances shall not be affected thereby.
Page 97 - An application for the confirmation of a composition may be filed in the court of bankruptcy after, but not before, it has been accepted in writing by a majority in number of all creditors whose claims have been allowed, which number must represent a majority in amount of such claims, and the consideration to be paid by the bankrupt to his creditors, and the money necessary to pay all debts which have priority and the cost of the proceedings, have been deposited in such place as shall be designated...
Page 20 - That provision was there sustained upon the broad ground that the "subject of bankruptcies" was nothing less than "the subject of the relations between an insolvent or nonpaying or fraudulent debtor, and his creditors, extending to his and their relief.
Page 47 - An Act to establish a uniform system of bankruptcy throughout the United States...
Page 197 - Association, the plaintiff in the above-entitled action ; that he has read the foregoing complaint and knows the contents thereof; and that the same is true to his own knowledge, except as to the matters therein stated to be alleged on information and belief ; and that as to those matters he believes it to be true.
Page 97 - The trustee may, with the approval of the court, compromise any controversy arising in the administration of the estate upon such terms as he may deem for the best interests of the estate.
Page 61 - ... such other papers filed in the proceedings as the Secretary of the Treasury may request or...
Page 57 - The following terms as used in this chapter, unless a different meaning is plainly required by the context, shall be construed as follows: "That the term 'petitioner' shall include any taxing agency or instrumentality referred to in section 81 of this chapter. "The term 'security...
Page 68 - The title of any owner, whether as trustee or otherwise, to rollingstock equipment leased or conditionally sold to the debtor, and any right of such owner to take possession of such property in compliance with the provisions of any such lease or conditional sale contract, shall not be affected by the provisions of this section.
Page 185 - Commission shall make such order only if it finds that such issue or assumption: (a) is for some lawful object within its corporate purposes, and compatible with the public interest, which is necessary or appropriate for or consistent with the proper performance by the carrier of service to the public as a common carrier, and which will not impair its ability to perform that service, and (b) is reasonably necessary and appropriate for such purpose.