New York § 194 Provision for pending actions

New York Statutes

§ 194 — Provision for pending actions

New York § 194

Law DCDDebtor & Creditor

Art. 7Trustees For Insolvent and Imprisoned Debtors

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Bluebook

N.Y. Debtor & Creditor § 194 (2026).

Text

  § 194. Provision for pending actions. If, at the time any dividend is\nmade, any action or proceeding be pending against the trustees, in which\na demand against such debtor may be established, the trustees may retain\nin their hands, the proportion which would belong to such demand if\nestablished, and the necessary costs and expenses of such action or\nproceeding, to be applied according to the event of such proceeding or\naction, or to be distributed in a second or other dividend.\n

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§ 194. Provision for pending actions. If, at the time any dividend is\nmade, any action or proceeding be pending against the trustees, in which\na demand against such debtor may be established, the trustees may retain\nin their hands, the proportion which would belong to such demand if\nestablished, and the necessary costs and expenses of such action or\nproceeding, to be applied according to the event of such proceeding or\naction, or to be distributed in a second or other dividend.\n