Where a party to a contract containing an arbitration clause is declared bankrupt, and the receiver has not expressed the intention to assume the contract, the arbitration proceedings may not continue and any award rendered is void for lack of potestas judicandi of the arbitrator. The arbitration clause, being ancillary to the contract in which it is contained, follows the fate of the contract itself: the termination of the contract pursuant to art. 72 of the Bankruptcy Act entails the lapse of the arbitration clause and, with it, of the power of the arbitrators to decide the dispute.
The registration of an arbitration claim under art. 2932 of the Civil Code in a period prior to the declaration of bankruptcy does not prevent the receiver from terminating the contract, nor does it render the termination unenforceable against the prospective purchaser, unlike the case in which the latter has registered a judicial claim under art. 2932 of the Civil Code in the context of ordinary proceedings.