New York Debtor & Creditor Law Article 2 - GENERAL ASSIGNMENTS FOR THE BENEFIT OF CREDITORS

• 2 - Jurisdiction of Proceedings.
  The term "judge" when used in this article shall apply equally to a county judge of the county within which the assignment is recorded and...
• 3 - Requisites of General Assignment.
  Every conveyance or assignment made by a debtor of his estate, real or personal, or both, to an assignee for the creditors of such debtor,...
• 4 - Debtor's Schedule.
  1. A debtor making an assignment shall, at the date thereof or within twenty days thereafter, cause to be made, and filed with the county...
• 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,...
• 6 - Bond of Assignee.
  The assignee named in any such assignment shall, within thirty days after the date thereof, and before he shall have any power or authority to...
• 7 - Further Security.
  The judge may, upon his own motion or upon the application of any party in interest, and on such notice as he may direct to...
• 8 - Discharge or Removal of Assignee; Correction of Inventory or Schedule; Supplemental Inventories or Schedules.
  The judge shall, in the case provided in section four, and may also, at any time, on the petition of one or more creditors, showing...
• 9 - Failure to File Bond.
  A failure to file any bond required by or under this article, within the specified time will not deprive the judge of his power over...
• 10 - Action on Bond; Application of Recovery.
  Any action brought upon an assignee's bond may be prosecuted by a party in interest by leave of the court; and all moneys realized thereon...
• 11 - Proceedings in Case of Death of Assignee.
  In case an assignee shall die during the pendency of any proceeding under this article, or at any time subsequent to the filing of any...
• 12 - Notices to Parties Interested in the Estate As Creditors or Otherwise.
  Parties interested in the estate as creditors, or parties otherwise interested, if the judge so directs, shall have at least ten days' notice by mail...
• 13 - Debts Which May Be Proved Against the Estate.
  Debts of the assignor may be proved and allowed against his estate which are (a) a fixed liability, as evidenced by a judgment absolutely owing...
• 14 - Duties of Assignee.
  It shall be the duty of the assignee to collect and reduce to money the property of the estate, under the direction of the court;...
• 15 - Power of Court.
  The court shall have power: 1. To allow claims, disallow claims, reconsider allowed or disallowed claims, and allow or disallow them against the estate. 2....
• 16 - Examination of Witnesses.
  1. The judge may also, at any time, on petition of the assignee or any party interested, order the examination of witnesses and the production...
• 17 - Invalid Claims.
  Claims which for want of record or for other reasons would not have been valid as against the claims of creditors of the assignor shall...
• 18 - Effect of Orders; Power of Judge and Duties of Clerk.
  All orders or decrees in proceedings under this article shall have the same force and effect, and may be entered, docketed and enforced and appealed...
• 19 - Sale and Compromise of Claims and Property.
  The judge may, upon the application of the assignee and for good and sufficient cause shown, and upon such terms as he may direct, authorize...
• 20 - General Powers of Court.
  Any proceeding under this article shall be deemed for all purposes, including review by appeal or otherwise, to be a proceeding had in the court...
• 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...
• 21-a - Company Pension Plans; Deductions From Wages Trust Moneys; Preference.
  Moneys contributed from wages or salary by an employee or former employee under any retirement system or plan maintained or operated by a domestic corporation,...
• 22 - Wages and Commissions and Preferred Claims.
  1. In all distribution of assets under all assignments made in pursuance of this article, the wages or salaries actually owing to the employees of...
• 23 - Limitation of Preferences.
  In all general assignments of the estates of debtors for the benefit of creditors no preference created therein, other than for the wages or salaries...
• 24 - Appraisal of Estate in the Hands of Assignee.
  Whenever it shall become necessary to appraise in whole or in part any estate in the hands of any assignee for the benefit of creditors,...

Last modified: February 3, 2019