584. Distribution of property in specie.

With the permission of the creditors' committee1, the trustee may divide in its existing form amongst the bankrupt's creditors, according to its estimated value, any property which from its peculiar nature or other special circumstances cannot be readily or advantageously sold2. A permission so given may not be a general permission but must relate to a particular proposed exercise of the power in question; and a person dealing with the trustee in good faith and for value is not to be concerned to inquire whether any requisite permission has been given

Popular documents