From: Rabbi Moshe Sofer
To: Rabbi Pinchas Leib Freiden
A man who both nullified and sold his chametz before Pesach receives whiskey barrels during Chol HaMoed. The Chasam Sofer permits the exchange-proceeds, endorsing Rabbi Gershon Ashkenazi's view that since the bitul-based prohibition is itself only a precaution, we do not layer additional penalties upon it.
Source: Shu"t Chasam Sofer OC §111