- Notwithstanding anything contained in the instrument of trust, the manager may, with the previous permission of the Court,-(a)accept any composition or any security for any debt or for any property claimed;(b)allow any time for payment of any debt;(c)compromise, compound, abandon, submit to arbitration or otherwise settle any debt, account, claim or thing whatever relating to the trust; and(d)for any of those purpose, enter into, give, execute and do such agreements, instruments of composition or arrangement, releases and other things as to him seems expedient, without being responsible for any loss occasioned by any act or thing so done by him in good faith.
