Article 692 — Consent of Secured Creditors

1/ Where encumbered assets are included into the sale of the business as a going-concern, the consent of the concerned mortgagees, pledgees and other beneficiaries of in rem security shall be obtained. 2/ Where the value of the pledged or mortgaged property is higher than the secured claim, the supervisor in reorganization may cause the release of the security interest by paying the claim or exchanging the property with another property of same value. 3/ Where the beneficiary creditor is not willing to release the encumbered asset, the supervisor in reorganization may apply to the court; the court may order the creditor to accept the payment of the secured claim or the exchange of the property with another property of same value. 4/ Where the property offered for exchange is not sufficient to fully cover the claim secured by the previous encumbered asset, the court shall order the supervisor in reorganization to pay the difference in favor of the secured creditor.