Financial Restructuring and Bankruptcy Law

Article 152 — Article (152) Effect of Judgment Invalidating the Debtor's Acts vis-à-vis Creditors

Part Three: Declaration of Bankruptcy · Chapter Four: Contracts

1. If the debtor's acts are ordered invalidated vis-à-vis the creditors, the party, with which the disposition was executed, shall refund to the debtor or the Trustee, as the case may be, the amounts that he obtained from the debtor under these acts or the value of the item at the time of its receipt if it is not possible to return it in kind. He shall further pay the interest or benefits resulting therefrom of the item he has received from the date of receipt. 2. The party, with which the disposition was executed, shall have the right to recover the consideration he provided to the debtor, if this particular consideration is found in the management of the debtor's assets. If there is none, the party, with which the disposition was executed, shall have the right to demand from the debtor and the creditors the benefit that accrued thereto from the disposition, and to engage in the proceedings as an ordinary creditor regarding the amount in excess thereof.

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