Original debt and sale of the leased asset of mortgage guarantee

The TS clarifies the concept of “original debt” in order to determine what part of the price obtained for the realization of the assets or rights that affect a credit with special privilege must be used to pay the privileged creditor.

In the cases of realization of the assets or rights affected by credits with special privilege, it provides the art. 155 Bankruptcy Law, that the privileged creditor will make the amount resulting from the realization in the amount that does not exceed the “original debt”, and the rest, if any, will correspond to the active mass of the contest.

The Chamber clarifies in this judgment what is meant by “original debt,” being the amount communicated and finally recognized in the list of final creditors, which includes the remuneration interests and moratoriums accrued prior to the declaration of competition, as well as remuneration interests Accrued after the declaration of competition, but not the moratoriums, since it understands that once declared the creditors’ contest, interest for late payment will not be accrued.

Art 155 Bankruptcy Law was introduced by Law 9/2015, and is applicable from 27-5-2015, as well as to insolvency proceedings that were in procession at that date.

STS Room 1 of April 11, 2019. EDJ 2019/555164