(1) A transaction granting or facilitating an insolvency creditor a security or satisfaction may be contested
1. if it was made during the last three months prior to the request to open insolvency proceedings, if the debtor was illiquid on the date of the transaction, and if the creditor was aware of the insolvency on this date, or
2. if it was made after the request to open insolvency proceedings, and if the creditor was aware of the debtor’s insolvency on the date of the transaction, or of the request to open insolvency proceedings.
This does not apply if the transaction is based on a security agreement which includes the obligation to create a financial security, another or an additional financial security within the meaning of section 1 (17) of the Banking Act in order to reinstate the relationship between the value of the secured obligation and the value of the performed securities set out in the security agreement (margin security).
(2) Awareness of circumstances necessarily indicating insolvency or a request to open insolvency proceedings is considered equivalent to awareness of insolvency or of the request to open insolvency proceedings.
(3) A person with a close relationship to the debtor which existed on the date of such transaction (section 138) is presumed to have been aware of the debtor’s insolvency or of the request to open insolvency proceedings.