In re Watman, Konopolsky & Bernstein

(after stating the facts as above). Section 12b, Bankruptcy Act (Comp. St. § 9596), requires the offer to be accepted by a majority in number of those creditors “whose claims have been allowed.” In cases of composition before adjudication section 12a provides for an “allowance” of claims at a meeting called for that purpose. Thus claims may be “allowed” under section 57a, section 57c, and section 57d (section 9641), before adjudication. In the case at bar the petitioner did not “prove” his claims or have them “allowed,” and the first question is whether that is a condition upon his recovery,…