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Hide: "put or keep out of sight; conceal from the view or notice of others."
The fact is that most of complainers here would be laughed out of the bancruptcy court, yourself included.
Selling assets for nothing before bancruptcy is legal, but will almost certainly be scrutinized by the court. The court has a broad power to collect the proceeds, sue the purchaser for the difference from the market value, and take additional steps to recover assets.
You can argue about the legality of what he did if you want, but being a pedant about the dictionary definition of the word "hide" just detracts from your main point by showing that you're arguing in bad faith.