Guam § 50204 - Assignee Right to Recover.

§ 50204. Assignee Right to Recover.

The assignee shall have the right to recover all the estate, debts, and

effects of said insolvent. If, at the time of the commencement of

proceedings in insolvency, an action is pending in the name of the debtor,

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for the recovery of a debt or other thing which might or ought to pass to the

assignee by the assignment, the assignee shall be allowed and admitted to

prosecute the action in like manner and with like effect as if it had been

originally commenced by him. If there are any rights of action in favor of

the insolvent for damages, on any account, for which an action is not

pending, the assignee shall have the right to prosecute the same with the

same effect as the insolvent might have done himself if no proceedings in

insolvency had been instituted. If any action or proceeding in which the

insolvent is the defendant is pending at the time of the adjudication, the

assignee may defend the same in the same manner and with like effect as it

might have been defended by the insolvent. In a suit prosecuted or defended

by the assignee, a certified copy of the assignment made to him shall be

conclusive evidence of his authority to sue or defend.