Pennsylvania Statutes Title 39 P.S. Insolvency and Assignments § 264. Trustees to collect debts and make distribution

It shall be the duty of such trustees forthwith to proceed to collect the debts, and to convert the real and personal estate of such insolvent into cash, and, within twelve months from the time of their appointment, to make distribution of the net proceeds thereof, in the manner hereinafter directed: Provided, That it shall be competent for the court, on application by such trustees, to enlarge the time for such distribution, or to order distribution from time to time, if any legal proceeding shall be pending, or any estate or effects of such insolvent should remain undisposed of, or be discovered, after the period fixed for such distribution.