(1) The commencement of reorganisation measures or winding-up proceedings against an insurance undertaking purchasing an asset shall not affect the seller's rights based on reservation of title where at the time of the commencement of such measures or proceedings the asset is situated in a Member State other than the state in which such measures or proceedings were commenced.
(2) The commencement of reorganisation measures or winding-up proceedings against an insurance undertaking selling an asset, after delivery of that asset, shall not constitute grounds for rescinding or terminating the sale and shall not prevent the purchaser from acquiring title where at the time of the commencement of such measures or proceedings the asset sold is situated within the territory of a Member State other than the State in which such measures or proceedings were commenced.