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Liquidation Under The Chandler Act: Bankruptcy Practice And Procedure Is Changed By Act Of Congress Effective September 22, 1938, Leopold M. Stern

Washington Law Review

In 1938 Congress enacted the Chandler Bill, which became effective September 22, 1938. Its purpose, among other things, as explained by the House Judiciary Committee report, was to clarify certain of the definitions and to add desirable new definitions, to straighten out certain overlapping provisions, to increase efficiency in administration, to make clearer certain ambiguous provisions, to improve the procedural sections of the act, and in general to modernize and bring up to date the bankruptcy law of our country. Congress went somewhat further than a mere modernization of the existing statute. It expanded the law by adding chapters on …