Article 144 of Bankruptcy Law

Immediately upon issuance of a decision opening bankruptcy declaration proceedings, the debtor shall be divested of the power to dispose of and administer his assets and business, and the trustee shall administer the debtor’s assets and business. All dispositions made by the debtor on the day the aforementioned decision is issued shall be deemed to have occurred after its issuance. Any disposition made contrary thereto shall be deemed never to have occurred. The trustee may bring an action before the Bankruptcy Court to obtain a judgment declaring it ineffective, and may submit the necessary applications to the Bankruptcy Judge to take the conservatory measures necessary to protect creditors’ rights. Divesting the debtor of his powers shall not prevent him from taking the steps necessary to preserve his rights without prejudicing creditors’ interests.