438. Actions pending by or against bankrupt.

438.     Actions pending by or against bankrupt.

If the right of action which a bankrupt is enforcing is one which vests in his trustee, or is one which the trustee is entitled to enforce for the benefit of the creditors, the trustee may, on an application made by himself without notice being served on any other party, or by any party to the action, to the court in which the action is pending, alleging the devolution of the right of action, become a party to the action in place of the bankrupt or as co-claimant1; but the