; and (2) have equity securities that are property of the estate, which may be sold or distributed in accordance with this title. 1186. Special trustee (a) (1) An order approving a transfer under section 1185 shall require the trustee to transfer to a qualified and independent special trustee, who is appointed by the court, all of the equity securities in the bridge company that is the recipient of a transfer under section 1185 to hold in trust for the sole benefit of the estate, subject to satisfaction of the special trustee’s fees, costs, and expenses. The trust of which the special trustee is the trustee shall be a newly formed trust governed by a trust agreement approved by the court as in the best interests of the estate, and shall exist for the sole purpose of holding and administering, and shall be permitted to dispose of, the equity securities of the bridge company in accordance with the trust agreement. (2) In connection with the hearing to approve a transfer under section 1185, the trustee shall confirm to the court that the Board has been consulted regarding the identity of the proposed special trustee and advise the court of the results of such consultation. (b) The trust agreement governing the trust shall provide— (1) for the payment of the fees, costs, expenses, and indemnities of the special trustee from the assets of the debtor’s estate; (2) that the special trustee provide— (A) quarterly reporting to the estate, which shall be filed with the court; and (B) information about the bridge company reasonably requested by a party in interest to prepare a disclosure statement for a plan providing for distribution of any securities of the bridge company if such information is necessary to prepare such disclosure statement; (3) that for as long as the equity securities of the bridge company are held by the trust, the special trustee shall file a notice with the court in connection with— (A) any change in a director or senior officer of the bridge company