N.Y. Debtor & Creditor Law § 212: Effect of assignment

§ 212. Effect of assignment. Such assignment shall transfer to the

persons to whom it shall be made, all the remaining estate and effects,

vested in the trustee so renouncing; and such new assignee shall have

the same powers, be subject to the same duties, and be entitled to the

same compensation, as the original trustee; and shall continue any suit

that may have been commenced by such original trustee, in his name, or

in that of such new assignee.