- 0,99 €
Beschreibung des Verlags
Mary V. Chaney filed a petition in the District Court to avail herself as a farmer of the provisions of Section 75 of the National Bankruptcy Act, 11 U.S.C.A. Â§ 203, in order to effect a composition or an extension of time to pay her debts. She failed, however, to obtain acceptance of the proposed settlement by a majority in number and amount of her creditors because of the objection of a creditor whose debt, secured by mortgage on her farm, was far greater than the remainder of her total indebtedness. Thereupon she filed a petition under Section 75, sub. s, asking to be adjudged a bankrupt, and the same creditor filed an objection alleging that she was not entitled to the benefits of that section since she was not a farmer within the definition of the statute. This issue of fact was referred to a Conciliation Commissioner who found that the petitioner was not a farmer, and this finding was confirmed by the District Judge.