Caselaw on the value of guarantees affected by the special privilege in insolvency proceedings

Abstract

There is no  jurisprudential doctrine on  the  scope  of application of the bankruptcy rules regarding the value  of guarantees. However, the main doctrinal & caselaw  interpretation maintains that  the limitation of the special  privilege to the value  of the guarantee does not  apply when the asset  or right object of the guarantee is executed, since  the creditor  has  the right to collect the results  of the execution up to the  limit of the  original  claim.