Is a pledged item delivered if the pledgor is legally blocked from managing assets (like in bankruptcy) before delivery?

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If a guardian is appointed over the pledgor due to bankruptcy before the delivery of the pledge (*rahn*), the pledge must not be handed over. This is because delivering it would grant the pledgee (the creditor) preferential rights over the asset relative to his co-creditors, and no single creditor has the right to exclusively favor themselves over others in this regard.