(a) The lien of a temporary protective order or of attachment, which has terminated pursuant to Section 493.030, is reinstated with the same effect as if it had not been terminated in the following cases:

(1) Where the termination is the result of the making of a general assignment for the benefit of creditors and the general assignment for the benefit of creditors is set aside otherwise than by the filing of a petition commencing a case under Title 11 of the United States Code (Bankruptcy).

Terms Used In California Code of Civil Procedure 493.050

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • general assignment for the benefit of creditors: means an assignment which satisfies all of the following requirements:

    California Code of Civil Procedure 493.010

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Property: includes both personal and real property. See California Code of Civil Procedure 17
  • Trustee: A person or institution holding and administering property in trust.

(2) Where the termination is the result of the filing of a petition commencing a case under Title 11 of the United States Code (Bankruptcy) and the petition is dismissed.

(3) Where the termination is the result of the filing of a petition commencing a case under Title 11 of the United States Code (Bankruptcy) and the trustee abandons property which had been subject to the lien of the temporary protective order or of attachment.

(b) The period from the making of a general assignment for the benefit of creditors until reinstatement of the lien of the temporary protective order or of attachment is not counted in determining the duration of the temporary protective order or the lien of attachment.

(Amended by Stats. 1979, Ch. 177.)

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