Interim-moratorium in bankruptcy bars creditor action against debtor property once an application is filed. Interim-moratorium begins when an application is filed for bankruptcy of an individual or partnership firm and continues until the bankruptcy commencement date. During this period, pending legal action against the debtor's property in respect of debts is stayed, and creditors cannot initiate new proceedings against such property. In the case of a firm, the interim-moratorium applies against all partners as on the application date. The section excludes notified transactions and does not apply to applications for bankruptcy of a personal guarantor to a corporate debtor.