N.Y. Debtor & Creditor Law § 20: General powers of court

§ 20. General powers of court. Any proceeding under this article shall

be deemed for all purposes, including review by appeal or otherwise, to

be a proceeding had in the court as a court of general jurisdiction, and

the court shall have full jurisdiction to do all and every act relating

to the assigned estate, the assignees, assignors and creditors, and

jurisdiction shall be presumed in support of the orders and decrees

therein unless the contrary be shown; and after the filing or recording

of an assignment under this article, the court may exercise the powers

of a court of equity in reference to the trust and any matters involved

therein.