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New York Debtor and Creditor Law Section 21 - Trial, Costs And Commissions.Legal Research Home > New York Lawyer > Debtor and Creditor > New York Debtor and Creditor Law Section 21 - Trial, Costs And Commissions.
§ 21. Trial, costs and commissions. The court, in its discretion, may
order a trial by jury or before a referee, of any disputed claim or
matter arising under the provisions of this article. It may in its
discretion award reasonable counsel fees and costs, determine which
party shall pay the same, and make all necessary rules to govern the
practice under this article. The assignee or assignees named in any
assignment shall receive for his or their services a commission of not
to exceed five per centum on the whole sum which will have come into his
or their hands, except in a case where such percentage shall not equal
two hundred dollars in which case the court may grant such a sum which
with such percentage shall equal two hundred dollars. If the assignee
continues the business the court may allow him additional compensation
equal to what he might be allowed as hereinabove provided.
The actual and necessary expenses incurred by the assignee in the
administration of the estate shall be reported in detail, under oath,
and examined and approved or disapproved by the court. If approved they
shall be paid out of the estate.
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Last modified: July 31, 2006 |