The trustee or debtor may offer to the secured creditors an alternative guarantee, provided that the alternative guarantee is equivalent to the existing guarantee. If they do not accept this offer, the Bankruptcy Court may order that the guarantee be replaced if it becomes clear thereto that the alternative guarantee is not less in value than the existing guarantee and does not cause damage to the interest of the creditor to whom the alternative guarantee is offered, without prejudice to the concessions and effects of the previous registration.
Interpretation and application must be checked against the official text and current version.