Section 194. Provision for pending actions

If, at the time any dividend is
  made, any action or proceeding be pending against the trustees, in which
  a demand against such debtor may be established, the trustees may retain
  in their hands, the proportion which would  belong  to  such  demand  if
  established,  and  the  necessary  costs  and expenses of such action or
  proceeding, to be applied according to the event of such  proceeding  or
  action, or to be distributed in a second or other dividend.