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Structural division: BOOK THREE › party
Article 628 — Protection for new Financing
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ The new financing shall be approved by the Court within the framework of the homologation of the restructuring plan. New financing means any new financing provided by an existing or a new creditor in order to implement a restructuring plan, included in that restructuring plan and subsequently approved by the Court.
2/ The grantors of new financing shall not incur civil, administrative or criminal liability on the ground that such financing is detrimental to the general body of creditors.
3/ New financing shall have priority over unsecured creditors in case of the subsequent opening of bankruptcy proceedings.