N.Y. Debtor & Creditor Law § 128: Proceedings on presentation of petition

§ 128. Proceedings on presentation of petition. Upon the presentation

of the petition, schedule, and affidavit, with due proof of service or

publication, as prescribed in the last three sections, the court must

make an order, directing the petitioner to be brought before it, on a

day designated therein; and on that day, or on such other days as it

appoints, the court must, in a summary way, hear the allegations and

proofs of the parties. If the court is satisfied that the petition and

schedule are correct, and that the petitioner's proceedings are just and

fair, it must make an order, directing the petitioner to execute, to one

or more trustees, designated in the order, an assignment of all his

property, not expressly exempt by law from levy and sale by virtue of an

execution; or of so much thereof as is sufficient to satisfy the

execution or executions, by virtue of which he is imprisoned.