N.Y. Debtor and Creditor Law 177 – Reference of disputed claims
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§ 177. Reference of disputed claims. If any controversy shall arise between the trustees and any other person in the settlement of any demands against such debtor, or of debts due his estate, the same may be referred to one or more indifferent persons, who may be agreed upon by the trustees and the party with whom such controversy shall exist, by a writing to that effect signed by them.
Terms Used In N.Y. Debtor and Creditor Law 177
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.