New York Business Corporation Law Section 1114 - Certain sales, transfers, security interests and judgments void.

1114. Certain sales, transfers, security interests and judgments void.
A  sale, mortgage, conveyance or other transfer of, or the creation of
  a security interest in, any property  of  a  corporation  made,  without
  prior  approval  of  the  court, after service upon the corporation of a
  summons in an action, or  of  an  order  to  show  cause  in  a  special
  proceeding,  under  this  article  in  payment  of or as security for an
  existing or prior debt or for any other or for no  consideration,  or  a
  judgment  thereafter  rendered  against the corporation by confession or
  upon the acceptance of any offer, shall be void as against such  persons
  and to such extent, if any, as the court shall determine.

Last modified: February 3, 2019