8N.I.In every action, suit, prosecution or other proceeding which stood pending immediately before the date of transfer in any court or tribunal and to which the transferor was a party, the transferee shall on the date of transfer become and be a party in the place of the transferor and such proceeding shall be continued between the transferee and the other parties thereto accordingly, and no such proceeding shall abate or be discontinued or prejudicially affected by reason of the dissolution of the transferor.