s ▁bank rupt cy ▁or ▁ins ol ven cy . ▁Similar ▁provision ▁is ▁made ▁with ▁respect ▁to ▁any ▁ins ol vent ▁person ▁upon ▁fil ing ▁a ▁notice ▁of ▁intention ▁or ▁a ▁proposal . ▁ ▁A ▁notice ▁of ▁intention , ▁a ▁Division ▁I ▁proposal , ▁or ▁a ▁Division ▁II ▁proposal , ▁will ▁automatically ▁create ▁a ▁stay ▁of ▁proceed ings ▁and ▁" no ▁cred itor ▁has ▁any ▁rem edy ▁against ▁the ▁deb tor ▁or ▁the ▁deb tor ' s ▁property , ▁or ▁shall ▁commence ▁or ▁continue ▁any ▁action , ▁execution ▁or ▁other ▁proceed ings , ▁for ▁the ▁recovery ▁of ▁a ▁claim ▁prov able ▁in ▁bank rupt cy ". ▁Similar ▁provision ▁is ▁also ▁made ▁on ▁the ▁bank rupt cy ▁of ▁any ▁deb tor . ▁Direct ors ▁of ▁ins ol vent ▁companies ▁that ▁have ▁file d ▁a ▁notice ▁of ▁intention ▁or ▁a ▁proposal ▁have ▁similar ▁protection . ▁ ▁Sus p ension ▁of ▁attach ments ▁ ▁S . ▁ 7 0 ( 1 ) ▁of ▁the ▁B IA ▁provides ▁that ▁bank rupt cy ▁orders ▁and ▁assign ments ▁take ▁preced ence ▁over ▁" all ▁jud icial ▁or ▁other ▁attach ments , ▁g arn ish ments , ▁certific ates ▁having ▁the ▁effect ▁of ▁jud g ments , ▁jud g ments , ▁certific ates ▁of ▁judgment , ▁legal ▁hyp othe cs ▁of ▁judgment ▁credit ors , ▁execution s ▁or ▁other ▁process ▁against ▁the ▁property ▁of ▁a ▁bank rupt ," ▁but ▁that ▁does ▁not ▁extend ▁to : ▁▁ ▁those ▁that ▁have ▁been ▁completely ▁executed ▁by ▁payment ▁to ▁the ▁cred itor ▁or ▁the