In re Bkown

Citations

• 123 F. 336

Syllabus

<p>1. Bankruptcy—Time for Proving Claims—Composition with Creditors— Effect.</p> <p>Bankr. Act 1898, § 57, Act July 1, 1898, c. 541, 30 Stat. 560 [U. S. Comp. St. 1901, p. 3443], provides that claims against a bankrupt estate shall not be proved subsequent to one year after the adjudication. Section 12a, 30 Stat. 549 [U. S. Comp. St. 1901, p. 3426] provides that the bankrupt may offer terms of composition “after but not before he has been examined in open court, or at a meeting of his creditors.” Clause “b” provides for a confirmation of the composition after it has been accepted by a majority of creditors “whose claims have been allowed.” Clause “e” provides that, if the composition shall fail, “the estate shall be administered in bankruptcy as herein provided.” Held, that the fact that a composition was effected did not extend the time given a creditor to prove his claim.</p>