§ 8 — Discharge or removal of assignee; correction of inventory or schedule; supplemental inventories or schedules

New York § 8

• Jurisdiction: New York
• Law DCD: Debtor & Creditor
• Art. 2: General Assignments For the Benefit of Creditors

Text

§ 8. Discharge or removal of assignee; correction of inventory or\nschedule; supplemental inventories or schedules. The judge shall, in the\ncase provided in section four, and may also, at any time, on the\npetition of one or more creditors, showing misconduct or incompetency of\nthe assignee, or on petition of the assignee himself, showing sufficient\nreason therefor, and after due notice of not less than five days to the\nassignor, assignee, surety and such other person as the judge may\nprescribe, remove or discharge the assignee, and appoint one or more in\nhis place, and order an accounting of the assignee so removed or\ndischarged, and may enjoin such assignee from interfering with the\nassignor's estate, and make provision by order for the safe custody of\nthe same, and enforce obedience to such injunction and orders by\nattachment; and, upon the discharge of the assignee upon his own\napplication, such assignee's bond shall be canceled and discharged. The\nnew assignee shall give a bond, to be approved as required by section\nsix. The judge shall have power, by order, to require or allow any\ninventory or schedule filed to be corrected or amended. The judge may\nalso require and compel, from time to time, supplemental inventories or\nschedules to be made and filed within such time as he shall prescribe,\nand to enforce obedience to all orders by attachment.\n