Upon the appointment and qualification of the liquidator for any district, he shall immediately succeed to the powers and duties of the board of supervisors and officers of such district and thereafter such officers and supervisors in such district shall cease to have any further powers or duties except to transfer to such liquidator all funds and property of such district and the liquidator shall be substituted as party plaintiff or defendant in all suits by or against the district or the supervisors. Said liquidator immediately upon his appointment and qualification shall take possession of all the property and effects of such sewer district and shall have the power with the approval of the court to dispose of the same.