§ 81 — Proceedings upon return of order

New York § 81

• Jurisdiction: New York
• Law DCD: Debtor & Creditor
• Art. 3: Insolvent's Discharge From Debts

Text

§ 81. Proceedings upon return of order. If, upon the return of the\norder, it appears that the assignment has been duly executed, and that\nthe petitioner has duly delivered all his property directed to be\nassigned, and all the books, vouchers, and papers relating thereto,\nwhich are capable of delivery, the court may, either\n 1. Grant a discharge of the petitioner, notwithstanding the neglect or\nrefusal of the trustee; or\n 2. Make an order, revoking the appointment of the trustee. Upon the\nentry of such an order, the powers of the trustee, and his interest in\nthe assigned property, cease. If there is no other trustee, the court\nmust, by the same or another order, appoint one or more new trustees.\nSuch an appointment has the same effect, as if the person or persons so\nappointed were named as trustees in the original assignment.\n