The assignee shall as speedily as possible convert the estate, real and personal, into money. He shall keep a regular account of all moneys received by him as assignee, to which every creditor or other person interested therein may, at all reasonable times, have access. No private sales of any property of the estate of an insolvent debtor shall be valid unless made under the order of the court, upon a petition in writing, which shall set forth the facts showing it to be necessary. Upon filing the petition, notice of the hearing thereof of at least ten (10) days shall be given by publication and mailing, in the same manner as is provided in § 50105. If it appears that a private sale is for the best interests of the estate, the court shall order it to be made.

SOURCE: CCP § 1328.