Article 158 of Bankruptcy Law

The following dispositions may not be invoked against creditors if made by the debtor in respect of whose debts a decision opening bankruptcy declaration proceedings has been issued, during the three months preceding the date of cessation of payment: 1 . Donations or gifts, except for customary small gifts. . Any transactions in which the debtor’s obligations are noticeably disproportionate to the obligations of the counterparty, whether these obligations are in kind or monetary. . Payment of debts before maturity, whatever the manner of such payment, or in a manner different from that normally followed to discharge that type of debt. Establishing funds for payment of a commercial instrument that has not yet matured shall be deemed payment before maturity, unless there are commercial considerations justifying this. 4. Payment of due debts with something other than that agreed upon; payment by commercial instruments or bank transfer is expressed as payment in money, unless there are commercial considerations justifying this. h . Creating any type of new security over its assets to secure payment of a prior debt, unless there are commercial considerations justifying this. Apart from the dispositions referred to in the preceding paragraph, the Bankruptcy Court may rule that any disposition made by the debtor during the aforementioned period is ineffective if it was detrimental to creditors and the transferee knew or ought to have known, at the time it occurred, of the debtor’s cessation of payment or that it was in a state of deficiency in its financial position. The period provided for in this Article shall be two years if the dispositions referred to in this Article were made between the debtor and an insider privy to inside information or a related party.