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§ 488. Exemptions.-"This act shall not affect the allowance to bankrupts of the exemptions which are prescribed by the State laws in force at the time of the filing of the petition in the State wherein they have had their domicile for the six months or the greater portion thereof immediately preceding the filing of the petition." It is the duty of the trustees to "set apart the bankrupt's exemptions and report the items and estimated value thereof to the court as soon as practicable after their appointment." 2

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"A bankrupt shall be exempt from arrest upon civil process except in the following cases: (1) When issued from a court of bankruptcy for contempt or disobedience of its lawful orders; (2) when issued from a State court having jurisdiction, and served within such State, upon a debt or claim for which his discharge in bankruptcy would not be a release, and in such case he shall be exempt from such arrest when in attendance upon a court of bankruptcy or engaged in the performance of a duty imposed by this act."

"The order referring a case to a referee shall name a day upon which the bankrupt shall attend before the referee; and from that day the bankrupt shall be subject to the orders of the court in all matters relating to his bankruptcy, and may receive from the referee a protection against arrest, to continue until the final adjudication on his application for a discharge, unless suspended or vacated by order of the court. A copy of the order shall forthwith be sent by mail to the referee, or be delivered to him personally by the clerk or other officer of the court. And thereafter all the proceedings, except such as are required by the act or by these general

§ 488. 130 St. at L. 544, 548, § 6; Sellers v. Bell (C. C. A.), 94 Fed. R. 801; In re Peterson, 95 Fed. R. 417; In re Tilden, 91 Fed. R. 500; In re Steele, 98 Fed. R. 78; In re Pope, 98 Fed. R. 722; In re Woodard, 95 Fed. R. 260; In re McCutchen, 100 Fed. R. 779; In re Coffman, 93 Fed. R. 422; In re Smith, 96 Fed. R. 832; In re Buelow, 98 Fed. R. 86; In re Hoag, 97 Fed. R. 543; In re Jones, 97 Fed. R. 773. Pension money is exempt. In re Bean, 100 Fed. R. 262. As to the rights of

creditors who hold waivers of exemptions, see Woodruff v. Cheves (C. C. A.), 105 Fed. R. 601, criticised in 15 Harv. Law Rev. 152.

230 St. at L. 544, 557, § 47; In re Friedrich (C. C. A.), 100 Fed. R. 284; In re Diller, 100 Fed. R. 931; In re Camp, 91 Fed. R. 745; In re Woodard, 95 Fed. R. 955; In re Grimes, 96 Fed. R. 529; In re McBryde, 99 Fed. R. 686; In re McCutchen, 100 Fed. R. 779; In re Smith, 93 Fed. R. 791.

3 Cf. 30 St. at L. 544, 549, § 9.

orders to be had before the judge, shall be had before the referee." 4

"If, at the time of preferring his petition, the debtor shall be imprisoned, the court, upon application, may order him to be produced upon habeas corpus, by the jailor or any officer in whose custody he may be, before the referee, for the purpose of testifying in any matter relating to his bankruptcy; and, if committed after the filing of his petition upon process in any civil action founded upon a claim provable in bankruptcy, the court may, upon like application, discharge him from such imprisonment. If the petitioner, during the pendency of the proceedings in bankruptcy, be arrested or imprisoned upon process in any civil action, the district court, upon his application, may issue a writ of habeas corpus to bring him before the court to ascertain whether such process has been issued for the collection of any claim provable in bankruptcy, and if so provable he shall be discharged; if not, he shall be remanded to the custody in which he may lawfully be. Before granting the order for discharge the court shall cause notice to be served upon the creditor or his attorney, so as to give him an opportunity of appearing and being heard before the granting of the order."5

It has been held that the bankrupt cannot be arrested even upon a debt which is not affected by the bankruptcy during the entire period from the adjudication until his discharge, or, if he is not discharged, until the time limited for his discharge has expired.

§ 489. Declaration and payment of dividends.—“ (a) Dividends of an equal per centum shall be declared and paid on all allowed claims, except such as have priority or are secured. (b) The first dividend shall be declared within thirty days after the adjudication, if the money of the estate in excess of the amount necessary to pay the debts which have priority and such claims as have not been, but probably will be, allowed

4 G. O. xii. As to the date when the jurisdiction of the referee attaches, see In re Florcken, 107 Fed. R. 241.

5 G. O. xxx.

6 In re Lewensohn, 99 Fed. R. 73. But see In re Baker, 96 Fed. R. 954.

An injunction against the prosecution of a suit against a surety upon the bankrupt's bail bond was not granted when his personal liberty was not threatened. In re Franklin, 106 Fed. R. 666.

equals five per centum or more of such allowed claims. Dividends subsequent to the first shall be declared upon like terms as the first and as often as the amount shall equal ten per centum or more and upon closing the estate. Dividends may be declared oftener and in smaller proportions if the judge shall so order. (c) The rights of creditors who have received dividends, or in whose favor final dividends have been declared, shall not be affected by the proof and allowance of claims subsequent to the date of such payment or declarations of dividends; but the creditors proving and securing the allowance of such claims shall be paid dividends equal in amount to those already received by the other creditors if the estate equals so much before such other creditors are paid any further dividends. (d) Whenever a person shall have been adjudged a bankrupt by a court without the United States and also by a court of bankruptcy, creditors residing within the United States shall first be paid a dividend equal to that received in the court without the United States by other creditors before creditors who have received a dividend in such court shall be paid any amounts. (e) A claimant shall not be entitled to collect from a bankrupt estate any greater amount than shall accrue pursuant to the provisions of this act."1

"(a) Dividends which remain unclaimed for six months after the final dividend has been declared shall be paid by the trustee into court. (b) Dividends remaining unclaimed for one year shall, under the direction of the court, be distributed to the creditors whose claims have been allowed but not paid in full, and after such claims have been paid in full the balance shall be paid to the bankrupt: Provided, that in case unclaimed dividends belong to minors, such minors may have one year after arriving at majority to claim such dividends." 2

§ 490. Compositions.-"(a) A bankrupt may offer terms of composition to his creditors after, but not before, he has been examined in open court or at a meeting of his creditors and filed in court the schedule of his property and list of his cred

§ 489. 130 St. at L. 544, 563, § 65. 230 St. at L. 544, 563, § 66. For a definition of a dividend, see In re Barber, 97 Fed. R. 547. For claims to interest on dividends, see Hersey v. Fosdick, 20 Fed. R. 44. Where a

creditor fails to prove his claim until after a dividend has been paid, it seems that he can only claim to share pro rata in those subsequently paid. In re Stein, 94 Fed. R. 124; In re Scott, 96 Fed. R. 607.

itors, required to be filed by bankrupts. (b) 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 by and subject to the order of the judge. (c) A date and place, with reference to the convenience of the parties in interest, shall be fixed for the hearing upon each application for the confirmation of a composition, and such objections as may be made to its confirmation. (d) The judge shall confirm a composition if satisfied that (1) it is for the best interests of the creditors; (2) the bankrupt has not been guilty of any of the acts or failed to perform any of the duties which would be a bar to his discharge; and (3) the offer and its acceptance are in good faith and have not been made or procured except as herein provided, or by any means, promises, or acts herein forbidden. (e) Upon the confirmation of a composition, the consideration shall be distributed as the judge shall direct, and the case dismissed. Whenever a composition is not confirmed, the estate shall be administered in bankruptcy as herein provided."1

"(a) The judge may, upon the application of parties in interest filed at any time within six months after a composition has been confirmed, set the same aside and reinstate the case if it shall be made to appear upon a trial that fraud was practiced in the procuring of such composition, and that the knowledge thereof has come to the petitioners since the confirmation of such composition." 2

The court will refuse to confirm the composition when the bankrupt has failed to make a deposit sufficient to pay the cost of the proceedings. It has been held that the composition must be offered to all the creditors, not merely to all whose claims have been allowed; that otherwise it may be disapproved,

$490. 130 St. at L. 544, 549, § 12. See Ross v. Saunders (C. C. A.), 105 Fed. R. 915; In re Hilborn, 104 Fed. R. 866.

230 St. at L. 544, 550, § 13.

3 In re Rider, 96 Fed. R. 808.

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when accepted by a majority of those who had proved their claims when it was offered, but not by a majority of those whose claims have been allowed when the application for confirmation is made; that an erroneous statement of the address of a creditor made in the schedules in good faith is no reason for setting aside the confirmation of the composition, although the creditor had no notice of the proceedings and his claim was not included in the composition; that a secret agreement made before the composition, that one creditor shall receive more than the other, is a fraud, which cannot be enforced, which is not a ground for relieving the promisee from the legal consequences of his failure to prove his claim,' and for which the composition may be set aside; that the trustee may remove any property that has been in pursuance thereof conveyed to the creditor, even if part of the consideration was his assistance in procuring the consent of other creditors by the purchase of their claims and otherwise; that an order setting aside a composition should not be granted without notice to all the creditors who have consented to the same; and that the absence of fraud in a creditor who assents to a composition releases his claim for damages caused by a breach of a contract, of which breach he then was ignorant."

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§ 491. Discharge of bankrupts.-"(a) Any person may, after the expiration of one month and within the next twelve months subsequent to being adjudged a bankrupt, file an application for a discharge in the court of bankruptcy in which the proceedings are pending; if it shall be made to appear to the judge that the bankrupt was unavoidably prevented from filing it within such time, it may be filed within, but not after, the expiration of the next six months. (b) The judge shall hear the application for a discharge, and such proofs and pleas as may be made in opposition thereto by parties in interest, at

4 Ibid.

5 In re Rudnick, 93 Fed. R. 787. "Brownsville Mfg. Co. v. Lockwood, 11 Fed. R. 705; In re Starr, 56 Fed. R. 142; Fairbanks v. Amoskeag Nat. Bank, 38 Fed. R. 630; Cavanna v. Bassett, 8 Fed. R. 215.

7 In re Starr. 56 Fed. R. 142.

8 Brownsville Mfg. Co. v. Lockwood, 11 Fed. R. 705.

9 Fairbanks V. Amoskeag Nat. Bank, 38 Fed. R. 630.

10 In re Dunn, 53 Fed. R. 341. As to the rights of secured creditors upon a composition, see Flower v. Greenbaum, 50 Fed. R. 190.

11 Fowle v. Park, 48 Fed. R. 789.

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