Section 19. Sale and compromise of claims and property

The judge may, upon
  the application of the assignee and for good and sufficient cause shown,
  and upon such terms as he may direct, authorize the  assignee  to  sell,
  compromise  or compound any claim or debt belonging to the estate of the
  debtor. But such authority shall not prevent any party interested in the
  trust estate from showing upon the final  accounting  of  such  assignee
  that such debt or claim was fraudulently or negligently sold, compounded
  or  compromised.  The  sale of any debt or claim heretofore made in good
  faith by any assignee shall be valid, subject, however, to the  approval
  of  the judge, and the assignee shall be charged with and be liable for,
  as part of the trust fund, any sum which might or  ought  to  have  been
  collected by him.
    All  sales  shall be had at public auction unless otherwise ordered by
  the judge. Upon application to the judge, and for good cause shown,  the
  assignee  may be authorized to sell any portion of the estate at private
  sale; in which case he shall keep an accurate  record  of  each  article
  sold,  and  the price received therefor, and to whom sold; which account
  he shall file at once. Upon application by the assignee  or  a  creditor
  setting  forth that a part or the whole of the estate is perishable, the
  nature and location of such perishable property, and that there will  be
  loss if the same is not sold immediately, the judge, if satisfied of the
  facts  stated  and  that  the  sale  is  required in the interest of the
  estate, may order the  same  to  be  sold  with  or  without  notice  to
  creditors.