N.Y. Debtor & Creditor Law § 128

§ 128. Proceedings on presentation of petition. Upon the presentation\nof the petition, schedule, and affidavit, with due proof of service or\npublication, as prescribed in the last three sections, the court must\nmake an order, directing the petitioner to be brought before it, on a\nday designated therein; and on that day, or on such other days as it\nappoints, the court must, in a summary way, hear the allegations and\nproofs of the parties. If the court is satisfied that the petition and\nschedule are correct, and that the petitioner's proceedings are just and\nfair, it must make an order, directing the petitioner to execute, to one\nor more trustees, designated in the order, an assignment of all his\nproperty, not expressly exempt by law from levy and sale by virtue of an\nexecution; or of so much thereof as is sufficient to satisfy the\nexecution or executions, by virtue of which he is imprisoned.\n