N.Y. Debtor & Creditor Law § 214: Effect of order

§ 214. Effect of order. Upon such order being granted, such trustee

shall be discharged from the trust reposed in him, and his power and

authority shall thereupon cease; but he shall, notwithstanding, remain

subject to any liability he may have incurred, at any time previous to

the granting of such order, in the management of his trust.