Page:United States Statutes at Large Volume 53 Part 1.djvu/644

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APPENDIX Provided, That the court shall scrutinize the circumstances of an assignment of a future rent claim and the amount of the consideration paid for such assign- ment in dietermining the amount of damages allowed the assignee thereof. SEC. 643. If the time for filing claims in a pending bankruptcy proceeding has expired prior to the filing of a petition under this chapter, claims provable under section 63 of this Act and not filed within the time prescribed by subdi- vision n of section 57 of this Act shall not be allowed in the proceedings or participate in a plan under this chapter, and shall not be allowed in the bankruptcy proceeding when reinstated as provided in this chapter. SEo. 644 . Upon the entry of an order under the provisions of this chapter directing that bankruptcy be proceeded with, only such claims as are provable under section 63 of this Act shall be allowed and, except as provided in section 643 of this Act, claims not already filed may be filed within three months after the first date set for the first meeting of creditors, held pursuant to section 55 of this Act, or, if such date has previously been set, then within three months after the mailing of notice to creditors of the entry of the order directing that bankruptcy be proceeded with. ARTICLE VIII-PROVISIONS OF PLAN SEC. 646 . A plan under this chapter- (1) shall include provisions dealing with unsecured debts generally, upon any terms; (2) may include provisions dealing with secured debts severally, upon any terms; (3) may provide for priority of payment during the period of extension as between the secured and unsecured debts affected by the plan; (4) shall include provisions for the submission of future earnings or wages of the debtor to the supervision and control of the court for the purpose of enforcing the plan; (5) shall provide that the court may from time to time during the period of extension increase or reduce the amount of any of the installment payments pro- vided by the plan, or extend or shorten the time for any such payments, where it shall be made to appear, after hearing upon such notice as the court may designate, that the circumstances of the debtor so warrant or require; (6) may include provisions for the rejection of executory contracts of the debtor; and (7) may include any other appropriate provisions not inconsistent with this chapter. ARTICLE IX-CONFIRMATION AND CONSUMMATION OF PLANS SEC. 651 . A plan which at the meeting of creditors, as provided in section 633 of this Act, has been accepted in writing by all creditors affected thereby, whether or not their claims have been proved, shall be confirmed by the court when the debtor shall have made the deposit required under this chapter and under the plan, and if the court is satisfied that the plan and Its acceptance are In good faith and have not been made or procured by any means, promises, or acts forbidden by this Act. SEC. 652 . If a plan has not been so accepted, an application for the confirma- tion of the plan may be filed with the court within such time as the court shall have fixed in the notice of such meeting, or at or after such meeting and after, but not before- (1) it has been accepted in writing, if unsecured creditors are affected by the plan, by a majority in number of all such creditors whose claims have been proved and allowed before the conclusion of the meeting, which number shall represent a majority in amount of such claims, and by the secured creditors whose claims are dealt with by the plan; and (2) the debtor has made the deposit of moneys required of him under this chapter and under the plan. SEC. 653. Alterations or modifications of a plan may be proposed in writing by a debtor, with leave of court, at any time before the plan is confirmed. SEC. 654 . Unless the court finds that the proposed alteration or modification does not materially and adversely affect the interest of any creditor who has not in writing assented thereto, the court shall adjourn the meeting or, if closed, reopen the meeting, and may enter an order that any creditor who accepted the plan and who fails to file with the court within such reasonable time as shall be fixed in the order a rejection of the altered or modified plan, shall be deemed to have accepted the alterations or modifications and the plan so altered or modified, unless the previous acceptance provides otherwise. SEC. 655. At least ten days' notice of the adjourned or reopened meeting, together with a copy of the order, if entered, and of the proposed alteration or modification, shall be given to the creditors and other parties in interest. CXXXIX