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Corporate Reorganization Under Section 77b Of The Bankruptcy Act, Jacob J. Kaplan
Corporate Reorganization Under Section 77b Of The Bankruptcy Act, Jacob J. Kaplan
Michigan Law Review
In the closing hours of its legislative life the 73rd Congress adopted the amendment to the Bankruptcy Act providing for the reorganization of corporations, and designated as Section 77B. The Act was approved. by the President on June 7, 1934. The statute had had a long and checkered history in Congress. Such legislation barely failed of enactment in the preceding session when Congress first gave to natural persons availing themselves of bankruptcy procedure the right to call themselves "debtors" rather than "bankrupts," and provided a substantially similar method of reorganization for railroad corporations engaged in interstate commerce. The present statute …
Bankruptcy - Fraudulent Transfers -Trustee's Assignee
Bankruptcy - Fraudulent Transfers -Trustee's Assignee
Michigan Law Review
Since bankruptcy proceedings contemplate a sale of the debtor's assets, the importance of knowing what the trustee may sell is at once obvious. One must, however, go further and inquire as to the rights of purchasers from the trustee. This question assumes importance to the trustee, since it determines what he may sell, and is also important to the purchaser, since it determines what he may buy. The answer determines the efficiency of our bankruptcy machinery. In this comment we propose to consider one phase of this general question: May the trustee assign his right to set aside a fraudulent …