If in dealing with the bankrupt's estate the trustee enters into any transaction with a person who is an associate1 of the trustee, the court may, on the application of any interested person 2, set the transaction aside and order the trustee to compensate the bankrupt's estate for any loss suffered in consequence of it3.
The above provisions do not, however, apply if either the transaction was entered into with the prior consent of the court, or it is shown to the court's satisfaction
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