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New York · Through 2026-09-11

N.Y. Debtor & Creditor Law § 12: Notices to parties interested in the estate as creditors or otherwise

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Where this section sits in the code
  1. Debtor & Creditor Law
  2. Article 2. General Assignments For the Benefit of Creditors

§ 12. Notices to parties interested in the estate as creditors or

otherwise. Parties interested in the estate as creditors, or parties

otherwise interested, if the judge so directs, shall have at least ten

days' notice by mail to their respective addresses as they appear in the

schedule filed by the assignor, or at such other addresses as they shall

have filed with the assignee, of (a) all proposed sales of property, (b)

the declaration and time of payment of dividends, (c) the filing of the

interim account and the filing of the final account of the assignee and

of the hearing thereon, (d) the proposed compromise of any controversy.

Such notice may be published as the judge shall direct and must be

returnable in court.

The judge may cause such notices to be sent or published on the

petition of the assignee at any time after the assignment, or on

petition of any other person interested in the estate, at any time after

the lapse of sixty days from the filing of such assignment, or where an

assignee has been removed and ordered to account as hereinbefore

provided on the petition of a creditor, or an assignee's surety, or

assignor, and on good cause being shown, the judge may grant an order

directing the assignee to show cause at the time specified why a sale of

the property should not be had or a dividend should not be paid, or a

settlement of his account should not be had, or such other matters as in

the opinion of the judge should be disposed of.

Upon the hearing and determination of such order to show cause the

judge may make such order in the premises as justice requires.

Whenever the assignee has filed his final account the judge shall fix

a date for the final hearing to consider the judicial settlement of the

account, which date shall not be less than fifteen days following the

filing of the account and notices shall be given to the creditors as

provided in this section.

Collected 2026-09-14T19:32:44Z. Source file · JSON

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