Rescission or Nullity of Sale, Payment, Transfer or Conveyance of Assets.
Section 52
SEC. 52. Rescission or Nullity of Sale, Payment, Transfer or Conveyance of Assets. — The court may rescind or declare as null and void any sale, payment, transfer or conveyance of the debtor's unencumbered property or any encumbering thereof by the debtor or its agents or representatives after the commencement date which are not in the ordinary course of the business of the debtor: Provided, however, That the unencumbered property may be sold, encumbered or otherwise disposed of upon order of the court after notice and hearing: if such are in the interest of administering the debtor and facilitating the preparation and implementation of a Rehabilitation Plan; in order to provide a substitute lien, mortgage or pledge of property under this Act; for payments made to meet administrative expenses as they arise; for payments to victims of quasi delicts upon a showing that the claim is valid and the debtor has insurance to reimburse the debtor for the payments made; for payments made to repurchase property of the debtor that is auctioned off in a judicial or extrajudicial sale under. This Act; or for payments made to reclaim property of the debtor held pursuant to a possessory lien.