Liability of trustee in bankruptcy
46.—(1)  Where —
(a)a trustee in bankruptcy has misapplied or retained, or become accountable for, any money or other property comprised in the bankrupt’s estate; or
(b)the estate of a bankrupt has suffered any loss in consequence of any misfeasance or breach of fiduciary or other duty by a trustee in bankruptcy in the carrying out of the trustee’s functions,
the Official Assignee, the bankrupt or any creditor of the bankrupt may apply to the Court for any order specified in subsection (2).
(2)  Upon hearing an application made under subsection (1), the Court may, for the benefit of the estate, order the trustee in bankruptcy to —
(a)repay, restore or account for any money or other property (together with interest at such rate as the Court may think just); or
(b)pay such sum by way of compensation in respect of the misfeasance or breach of fiduciary or other duty as the Court may think just.
(3)  Any order made by the Court under subsection (2) is without prejudice to any liability on the part of the trustee in bankruptcy arising apart from this section.
(4)  Where a trustee in bankruptcy seizes or disposes of any property that is not comprised in the bankrupt’s estate, and at the time of the seizure or disposal the trustee believes, and has reasonable grounds for believing, that the trustee is entitled (whether pursuant to an order of the Court or otherwise) to seize or dispose of that property, the trustee —
(a)is not liable to any person (whether under this section or otherwise) in respect of any loss or damage resulting from the seizure or disposal, except insofar as the loss or damage is caused by the negligence of the trustee; and
(b)has a lien on the property or the proceeds of its sale for such of the expenses of the bankruptcy as were incurred in connection with the seizure or disposal.