New York Consolidated Laws, Debtor and Creditor Law - DCD § 212. Effect of assignment

Such assignment shall transfer to the persons to whom it shall be made, all the remaining estate and effects, vested in the trustee so renouncing;  and such new assignee shall have the same powers, be subject to the same duties, and be entitled to the same compensation, as the original trustee;  and shall continue any suit that may have been commenced by such original trustee, in his name, or in that of such new assignee.