Bankruptcy Act

[AI summary unavailable — showing source text] Bankruptcy Act - Title I: The Bankruptcy Act - Revises and recodifies Federal bankruptcy law as title 11 of the United States Code. Title II: Bankruptcy - Provides that all papers in bankruptcy cases shall be public records. Sets forth the organization, administration, jurisdiction, and procedures of bankruptcy courts. Prescribes the duties of the Director of the Branch of Bankruptcy Administration in administering bankruptcy cases. Describes the relief available to debtors and creditors and methods of petitioning for such relief. Provides for appointment of trustees for bankruptcy courts to conduct business for the debtor or bankrupt. Requires specified notices to creditors in bankruptcy cases. Provides for examination of debtors. Sets forth procedures for creditors claims. States what claims are allowable, and the order of distribution of proceeds. Prescribes conditions of redemption and discharge debts, and describes exempt property. Defines property within the debtor's estate. Determines the validity of liens against the debtor's property. Prescribes fraudulent transfers in anticipation of bankruptcy. Provides for the disposition and use of the debtor's property after confirmat…