N.Y. Debtor & Creditor Law § 212

§ 212. Effect of assignment. Such assignment shall transfer to the\npersons to whom it shall be made, all the remaining estate and effects,\nvested in the trustee so renouncing; and such new assignee shall have\nthe same powers, be subject to the same duties, and be entitled to the\nsame compensation, as the original trustee; and shall continue any suit\nthat may have been commenced by such original trustee, in his name, or\nin that of such new assignee.\n