Word: debtors
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Although imprisonment for debt has been abolished, creditors may still obtain judgments and if the debtor does not obey the court's order to pay he may be imprisoned for contempt of court. Debtors unable to pay can generally avoid such imprisonment by going into bankruptcy...
...months Paramount had struggled through receivership, bankruptcy and Section 77b reorganization proceedings. Last July it emerged as a free and solvent corporation. But receivers, trustees, committeemen, lawyers, experts, banks and others sent in a $3,239,828 bill for services and expenses. Paramount was the debtor, as the law provides that "a trust estate must bear the expenses of its administration." But Judge Coxe had the authority to deny or to reduce claims, since Section 77b provides: "The judge . . . may allow a reasonable compensation for services rendered . . . and expenses incurred." Last week Judge Coxe granted payments...
Services must be in behalf of the debtor Twelve banks, to which Paramount owed $14,000,000, were represented by a committee which valued its services at $50,000. The Paramount trustees were suing the banks, which they claimed had been treated as preferred creditors. Judge Coxe said that the bank committee's efforts were "adverse to the debtor," hence no allowance was justified...
...assets and liabilities over to his son. A director of Remington Rand and several other companies, he owned no stock of value, had but one asset, a bank account containing $153.63. By order of the judge, Oldster Rand made over the $153.63 to the County Clerk, took a poor debtor's oath, went home...
...gold as specified by treaty, not in devalued dollars. Twice Panama has turned back interest checks for $250,000 in 59? dollars, demanding the 100? gold dollars which the U. S. solemnly covenanted to pay. When Minister Alfaro left, he admitted that he got no promise that the debtor would live up to its engagement. ¶ Weary from the heavy job of setting up machinery to spend his $4,000,000,000 works fund and trying to spur Congress into action, the President got some relief when, for the first time this year, the weather was pleasant enough...