The Insolvent

In case opposite, the conditions of this agreement could not be opposed by the guarantor in front of the creditor with endorsement. That is to say, the guarantor will not be able to pay to the creditor with endorsement the amounts guaranteed in the conditions of acquittal and hopes settled down in the agreement of creditors. It still with the possibility that the guarantee at issue consisted of a endorsement to first requirement and first demand. In such case, we understand not even that the guarantor could not never oppose to the creditor with endorsement the acquittals and/or delays of the agreement, supposing that this one had voted in favor of this agreement. In this sense, he indicates the LC that " the responsibility of the shared in common forced ones, fasteners or guarantors of the insolvent debtor in front of the creditors who had voted in favor of the agreement will prevail by the norms applicable to the obligation which they will have contracted or by the agreements that on the individual were establecido" (article 135,2).

4. – Endorsement in favor of creditor especially related to indebted the Special relevance deserves to analyze the question of what it happens when the creditor with endorsement has condition of " person especially related to concursado". In accordance with article 93,2 of the LC, when the indebted one guaranteed is a society, people related to him consider themselves especially: – The partners who according to the law are personal and limitlessly responsible for the social debts and those others that, at the time of the birth of the credit right, are titular of, at least, a 5% of the share capital, if the society declared in contest had admitted values to negotiation in official secondary market, or a 10% if it did not have them. – The administrators, of right or in fact, liquidator of the insolvent debtor the legal person and the proxies with general powers of the company, as well as that it will have been within both years previous to the contest declaration.

Last Modified on December 29, 2016
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