(1) Set-off is inadmissible if
1. an insolvency creditor has become an obligor to the credit of the insolvency estate only after the opening of the insolvency proceedings;
2. an insolvency creditor acquired his or her claim from another creditor only after the opening of the insolvency proceedings;
3. an insolvency creditor acquired the opportunity to set off his or her claim by a transaction subject to contest;
4. a creditor with a claim to be satisfied from the debtor’s free property is an obligor to the credit of the insolvency estate.
(2) Subsection (1) and section 95 (1) sentence 3 are not a hindrance to disposal over financial securities within the meaning of section 1 (17) of the Banking Act or the set-off of claims and benefits from payment orders, orders between payment services providers or intermediary bodies or orders for the transfer of securities which were introduced into systems within the meaning of section 1 (16) of the Banking Act which serve to implement such agreements, insofar as the set-off is effected at the latest on the day of when insolvency proceedings are opened; if the other party is a system operator or participant in a system, the day when insolvency proceedings are opened is deemed to be that business day within the meaning of section 1 (16b) of the Banking Act.