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![handle is hein.bank/rvntby0001 and id is 1 raw text is: Union Calendar No. 964
77H CONGRESS HOUSE OF REPRESENTATIVES S REPORT
2d Session f No. 2666
REVISION OF THE NATIONAL BANKRUPTCY ACT
NOVEMBER 30, 1942.-Committed to the Committee of the Whole House on the
state of the Union and ordered to be printed
Mr. McLAUGHLIN, from the Committee on the Judiciary, submitted
the following
REPORT
[To accompany H. R. 7814]
The Committee on the Judiciary, to whom was referred the bill
(H. R. 7814) to amend an act entitled An act to establish a uniform
system of bankrupty throughout the United States, approved July
1, 1898, and acts amendatory thereof and supplementary thereto,
having considered the same, report favorably thereon and recommend
that the bill do pass.
1 This report is in three parts. Part I contains the background and
a summary of the bill. Subdivision A indicates that the primary
purpose of this measure is to create a system of full-time, salaried
referees. Subdivision B contains a brief summary of the bill by
sections. Subdivision C contains a historical r6sum6 of the genesis
of the bill and the consideration that it has received. Subdivision D
lists the many endorsing bodies and agencies.
Part II of this report contains a detailed explanation of the proposed
amendments section by section. All of the changes in existing law
are specifically pointed out, together with the reasons for the change
and, wherever relevant, the source of the recommendation.
Part III contains a reprint of the bill with the changes in existing
law indicated in compliance with clause 2a of House Rule XIII.
PART 1. BACKGROUND AND SUMMARY OF THE BILL
A. PURPOSE OF THE BILL
This bill is aimed primarily at setting up a system of full-time,
salaried referees to replace the present system of essentially part-time
referees compensated on a fee basis.
The survey of the Attorney General's Committee on Bankruptcy
Administration revealed that out of approximately 470 referees only](ViewImageLocal?handle=hein.bank/rvntby0001&div=1&collection=&method=preview&ext=.png&size=3)