Bankruptcy Law

1. Without prejudice to the provisions of Chapter 14 of this Law, if the court decides to order a moratorium, it shall not be permissible to: a) file a petition for the initiation of any of the bankruptcy procedures; b) undertake or complete any action or legal procedure regarding the bankruptcy assets; or c) undertake or complete any of the procedures provided for in the Regulations. 2. Any action contrary to paragraph (1) of this Article shall be deemed null and void, and the court may, on its own motion or upon the request of a person with interest, order the recovery of any asset disposed of during the moratorium period or take any other action it deems fit, without prejudice to the rights of bona fide third parties. An aggrieved party may file a claim for compensation. 3. Notwithstanding paragraph (1) of this Article, a moratorium shall not apply to secured debts. A secured creditor shall, upon enforcement against any of the securities securing his debt, return any surplus amounts to the small debtor within three days from the date of enforcement.