585. Powers of trustee
Subject to the general or special directions of the Court, the trustee may do all or any of the following things—
(1) sell all or any part of the property of the bankrupt (including the good-will of the business, if any, and the book debts due or growing due to the bankrupt), by public auction or private contract with power to transfer the whole to any person or company, or to sell the same in parcels: Provided that immovables shall be sold by the Sheriff, and such sale shall be subject to the same conditions and formalities, and shall have the same effect as a judicial sale;
(2) give receipts for any money received by him or her, which receipts shall effectually discharge the person paying the money from all responsibility in respect of the application;
(3) prove, rank, claim, and draw a dividend in respect of any debt due to the bankrupt;
(4) exercise any powers the capacity to exercise which is vested in the trustee hereunder and execute any power of attorney, deeds, and other instruments for the purpose of carrying into effect the provisions hereof;
(5) deal with any property, to which the bankrupt is beneficially entitled in the same manner as the bankrupt might have dealt with it;
(6) carry on the business of the bankrupt so far as may be necessary for the beneficial winding up of the same;
(7) bring, institute, or defend any action, suit or other legal proceeding relating to the property of the bankrupt;
(8) employ a solicitor or other agent to take any proceedings or do any business which may seem desirable;
(9) accept as the consideration for the sale of any property of the bankrupt a sum of money payable at a future time subject to such stipulations as to security and otherwise as may seem fit;
(10) hypothecate or pledge any part of the property of the bankrupt for the purpose of raising money for the payment of his or her debts;
(11) refer any dispute to arbitration, compromise all debts, claims, and liabilities, whether present or future, certain or contingent, liquidated or unliquidated, subsisting or supposed to subsist between the bankrupt and any person who may have incurred any liability to the bankrupt, on the receipt of such sums, payable at such times, and generally on such terms as may be agreed on;
(12) make such compromise or other arrangement as may be thought expedient with creditors, or persons claiming to be creditors, in respect of any debts provable under the bankruptcy;
(13) make such compromise or other arrangement as may thought expedient with respect to any claim, arising out of or incidental to the property of the bankrupt, made or capable of being made on the trustee by any person or by the trustee on any person;
(14) divide in its existing form amongst the creditors, according to its estimated value, any property which from its peculiar nature or other special circumstances cannot be readily or advantageously sold.