Page:United States Statutes at Large Volume 53 Part 1.djvu/613

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CODIFICATION OF INTERNAL REVENUE LAWS holders, indenture trustees, the Securities and Exchange Commission and such other persons as the judge may designate, and, if directed by the judge, by publica- tion in such newspaper or newspapers of general circulation as the judge may designate. SE. 162. At the hearing required by section 161 of this Act, or at any adjourn- ment thereof, or , upon application, at any other time, the judge may hear objec- tions to the continuance of the debtor in possession, or to the retention in office of a trustee upon the ground that he is not qualified or not disinterested as provided in section 158 of this Act. SEc. 163 . Upon the approval of a petition, where the debtor is continued in possession, the debtor shall, at the expense of the estate, prepare, make oath to, and file in court, within such time as the court shall fix- (1) a schedule of its property, showing the location, quantity, and money value thereof; (2) a schedule of its creditors of each class, showing the amounts and char- acter of their claims and securities and, so far as known, the name and post- office address or place of business of each creditor; and (3) a schedule of its stockholders of each class showing the number and kind of shares registered in the name of each stockholder, and the last-known post- office address or place of business of each stockholder. SEC. 164. Upon the approval of a petition, where a debtor is not continued in possession, the court shall fix a time within which the trustee shall prepare and file in court a list of the creditors of each class, showing the amounts and char- acter of their claims and securities and, so far as known, the name and the post-office address or place of business of each creditor; and a list of the debtor's stockholders of each class, showing the number and kind of shares registered in the name of each stockholder and the last-known post-office address or place of business of each stockholder. SEc. 165. If in any case it appears that a person, other than the debtor or its trustee, has in his possession or under his control a list of security holders of the debtor or information in respect to their names, addresses, or the securi- ties held by any of them, and such list or information is necessary in order to disclose the names and addresses of the beneficial owners of such securities, or to prepare or complete the schedules required to be filed under section 163 of this Act or the lists required to be filed under section 164 of this Act, the court shall direct such person, after a hearing upon notice to him, to produce such list or a true and correct copy thereof, or to furnish such information, or to permit the inspection or use thereof, as may be deemed by the court necessary for the foregoing purposes. SEC. 166 . The court may, upon cause shown, direct the impounding of the schedules, lists, copies, or information filed under sections 163, 164, and 165 of this Act, but shall permit their inspection or use by the trustee, any in- denture trustee or any creditor or stockholder upon such terms as the court may prescribe: Provided, That the court may refuse to permit such inspection by any creditor or stockholder who acquired his claim or stock within three months preceding the filing of the petition under this chapter or during the pendency of the proceeding. SEe. 107. The trustee upon his appointment and qualification- (1) shall, if the judge shall so direct, forthwith investigate the acts, conduct, property, liabilities, and financial condition of the debtor, the operation of its business and the desirability of the continuance thereof, and any other matter relevant to the proceeding or to the formulation of a plan, and report thereon to the judge; (2) may, if the judge shall so direct, examine the directors and officers of the debtor and any other witnesses concerning the foregoing matters or any of them; (3) shall report to the judge any facts ascertained by him pertaining to fraud. misconduct, mismanagement and irregularities, and to any causes of action available to the estate; (4) may, subject to the approval of the judge, employ such person or per- sons as the judge may deem necessary for the purpose of assisting the trustee in performing the duties imposed upon him under this chapter; (5) shall, at the earliest date practicable, prepare and submit a brief state- ment of his investigation of the property, liabilities, and financial condition of the debtor, the operation of its business and the desirability of the continuance thereof, in such form and manner as the judge may direct, to the creditors, stockholders, indenture trustees, the Securities and Exchange Commission, and such other persons as the judge may designate; and (6) shall give notice to the creditors and stockholders that they may submit to him suggestions for the formulation of a plan, or proposals in the form of plans, within a time therein named. Sue. 168 . If a debtor is continued in possession, the judge may at any time appoint a disinterested person as examiner to prepare and file a plan and to perform the duties imposed upon a trustee under paragraphs (1) to (5), in- clusive, of section 167 of this Act, or to perform any of such duties. CVIII