New York Consolidated Laws, Debtor and Creditor Law - DCD § 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.