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Part 3 · Effects of opening insolvency proceedings  ›  Division 1 · General effects › Section 80

Right to manage and transfer insolvency estate vested in insolvency administrator

(1) Upon insolvency proceedings being opened, the debtor’s right to manage and transfer the insolvency estate is vested in the insolvency administrator.

(2) An existing prohibition of transfers imposed on the debtor and purporting to protect only certain persons (sections 135 and 136 of the Civil Code) does not have binding effect on the proceedings. The provisions governing the effects of an attachment or seizure by way of execution remain unaffected.

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