Chapters X-XIII

TABLE OF CORRESPONDING SECTIONS

Chapters X-XIII, introduced by the Chandler Act, were drawn with similar structures so far as practicable. Chapter X is the longest and most elaborate, embodying inter alia provision for hearing and court approval upon the plan, and, at least in large cases, for submission of plans to the Securities and Exchange Commission for report before submission to creditors. No comparable participation of a nonjudicial agency and no comparable procedure for avoiding premature solicitation of votes for plans are to be found in the other three chapters in question. Chapter XII has more similarity to chapter X than the other two chapters, by reason of covering secured claims. Chapter XIII is the shortest and least elaborate of the four chapters, being tailored to fit small cases only. The correspondence between chapter XIII and XI seems to be the closest correspondence between any two of these chapters.

The following table gives the section numbers in the four chapters which most closely correspond. In some instances the similarity relates to the problem dealt with and not to the specific provisions.

Chapter XI

ARRANGEMENTS

This chapter, added by the Chandler Act (1938), incorporates, with numerous changes and additions, former sections 12 and 74.

Article I-Construction

Sec. 301. (11 U.S.C. § 701.)

Exclusive Application of Chapter The provisions of this chapter shall apply exclusively to proceedings under this chapter.

Sec. 302. (11 U.S.C. § 702.) Application of Other Provisions

The provisions of chapters I to VII, inclusive, of this Act shall, insofar as they are not inconsistent with or in conflict with the provisions of this chapter, apply in proceedings under this chapter. For the purposes of such application, provisions relating to "bankrupts" shall be deemed to relate also to "debtors," and "bankruptcy proceedings" or "proceedings in bankruptcy" shall be deemed to include proceedings under this chapter. For the purposes of such application the date of the filing of the petition in bankruptcy shall be taken to be the date of the filing of an original petition under section 322 of this Act, and the date of adjudication shall be taken to be the date of the filing of the petition under section 321 or 322 of this Act except where an adjudication had previously been entered.

Article II-Definitions

Sec. 306. (11 U.S.C. § 706.) In General

For the purposes of this chapter, unless inconsistent with the context

(1) "arrangement" shall mean any plan of a debtor for the settlement, satisfaction, or extension of the time of payment of his unsecured debts, upon any terms;

(2) "consideration" shall include evidences of indebtedness, either secured or unsecured, stock and certificates of beneficial interest therein, and certificates of beneficial interest in property;

(3) "debtor" shall mean a person who could become a bankrupt under section 4 of this Act and who files a petition under this chapter;

(4) "executory contracts" shall include unexpired leases of real property; and