▁for ▁other ▁recovery ▁actions ▁with ▁respect ▁to ▁collections , ▁can ▁only ▁be ▁initi ated ▁by ▁the ▁trust ee , ▁even ▁when ▁they ▁may ▁be ▁of ▁benefit ▁only ▁to ▁a ▁secured ▁cred itor ▁( unless ▁credit ors ▁seek ▁court ▁appro val ▁under ▁s . ▁ 3 8 ▁to ▁purs ue ▁the ▁matter ▁directly ). ▁ ▁The ▁Act ▁already ▁emp ower ed ▁the ▁court ▁to ▁in quire ▁into ▁circumstances ▁where ▁a ▁bank rupt ▁corpor ation ▁had ▁paid ▁c ash ▁divid ends ▁or ▁re de emed ▁shares ▁where ▁the ▁corpor ation ▁was ▁ins ol vent , ▁or ▁where ▁the ▁transactions ▁made ▁it ▁so , ▁during ▁the ▁ 1 2 ▁months ▁prior ▁to ▁its ▁bank rupt cy . ▁In ▁that ▁regard , ▁▁ ▁the ▁direct ors ▁may ▁be ▁held ▁joint ly ▁and ▁sever ally ▁li able ▁for ▁the ▁amounts ▁in ▁question ▁( unless ▁they ▁prove ▁that ▁they ▁acted ▁in ▁good ▁faith , ▁or ▁individual ▁direct ors ▁can ▁prove ▁that ▁they ▁had ▁protest ed ▁such ▁payment ) ▁ ▁share hold ers ▁related ▁to ▁any ▁of ▁the ▁direct ors ▁held ▁li able ▁may ▁also ▁be ▁declared ▁li able ▁for ▁the ▁amount ▁they ▁had ▁received ▁as ▁payment ▁ ▁existing ▁powers ▁under ▁the ▁applicable ▁incorpor ating ▁Act ▁allowing ▁the ▁direct ors ▁to ▁recover ▁such ▁pay ments ▁are ▁not ▁affected ▁ ▁S . ▁ 9 5 ( 2 ) ▁provides ▁that , ▁where ▁a ▁preference ▁is ▁given , ▁the ▁fact ▁that ▁it ▁may ▁have ▁been ▁given ▁under ▁pressure ▁is ▁irrelevant . ▁However , ▁the ▁courts ▁have ▁ruled ▁that ▁a ▁payment ▁may ▁with