Article 69 of Bankruptcy Law

New financing may be secured by creating a pledge over any of the debtor’s unpledged or pledged assets. In the latter case, the pledge shall rank after the pledge or pledges encumbering the assets sought to be pledged. New financing may also be secured by creating a pledge over any of the debtor’s pledged assets equal in rank to the rank of any existing pledge over the assets sought to be pledged or ranking ahead of it. In this case, the approval of the prior-ranking pledgee creditors the creditors’ committee is required.