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New York Debtor and Creditor Law Section 5 - Notice To Creditors To Present Claims.

Legal Research Home > New York Lawyer > Debtor and Creditor > New York Debtor and Creditor Law Section 5 - Notice To Creditors To Present Claims.




  § 5.  Notice  to  creditors  to present claims. The judge may, upon the
  petition of the assignee, authorize him to advertise  for  creditors  to
  present  to him their claims, with the vouchers therefor, duly verified,
  on or before a day to be specified in such advertisement, not less  than
  ten  days  from  the  publication thereof, which advertisement or notice
  shall be published in one newspaper, to be designated by the  judge,  as
  most  likely  to  give notice to the persons to be served, at least once
  and such additional times as the judge may direct; the last  publication
  shall be at least one week prior to the date specified.
    Said  verified  claim of creditor shall set forth whether any, and, if
  so, what securities are held for such claim, and whether  any,  and,  if
  so, what payments have been made thereon.
    Whenever  a  claim  is  founded  upon  an  instrument in writing, such
  instrument, unless lost or destroyed, shall be  filed  with  the  claim.
  After  the  claim  is  allowed  or  disallowed,  such  instrument may be
  withdrawn by permission of the court. If  such  instrument  is  lost  or
  destroyed,  a  statement  of  such fact and of the circumstances of such
  loss or destruction shall be filed under oath with the claim.

Last modified: July 31, 2006