If the debtor's application for the initiation of preventive settlement and proceedings is admitted in accordance with Article (252) of this Law, the Bankruptcy Court may permit the debtor, based on its request, to obtain new financing with or without guarantee, in accordance with the following provisions: 1. The new financing shall have priority over any existing ordinary debt owed by the debtor on the date of the decision to initiate the proceedings. 2. The possibility of guaranteeing the new financing by mortgaging any of the debtor's unmortgaged assets. 3. The possibility of guaranteeing the new financing by executing a mortgage on the debtor's mortgaged assets that were valued at a value exceeding the value of the debt secured by the previous mortgage. In this case, the new mortgage shall have a lower rank than the existing mortgage on the same assets, unless the creditors whose debts are secured by the assets subject to the mortgage agree that the new mortgage shall have a rank equal to or higher than the existing mortgage on the same assets. 4. If the mortgagee creditor is a licensed financing body, it is permissible to mortgage the same asset even if it was valued at a value equal to the value of the debt secured by the previous mortgage, at a value not exceeding (30%) of the value of such asset, and the Bankruptcy Court may issue an approval decision. The new mortgage shall have a rank equal to or higher than the existing mortgage on the same asset, especially if the objective of the new financing is to obtain materials or services necessary for the continuation of the debtor's business to achieve returns for the debtor for the purpose of helping it settle its outstanding debts.
Interpretation and application must be checked against the official text and current version.