172. Upon application by any person or company that was at the time of a transaction referred to in section 169 or is at the time of application an owner of capital securities of the corporation, or upon application by the Commission, a judge of the Superior Court may make an order, upon such terms and conditions as he may see fit, directing or permitting that an action be commenced or continued by the Commission in the name of and on behalf of the corporation to enforce the liability created by section 169.