Financial Restructuring and Bankruptcy Law

Article 160 — Article (160) Conditions for Debtor's Engagement in New Business

Part Three: Declaration of Bankruptcy · Chapter Five: Debtor's Engagement in New Business

Notwithstanding Article (157.2) of this Law, the debtor may, with the permission of the Bankruptcy Court, engage in new business using other than bankruptcy estate, provided that the same does not result in damage to the creditors. Creditors whose debts arise in connection with this previous business shall take precedence in respect of recovering their rights from its assets.

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