A couple of Murcian hoteliers cancel a debt of more than 1 million euros after taking advantage of the Second Chance Law. Despite the bank’s opposition, the commercial court of Murcia forgave the large debt of 1,225,820 euros that this couple of businessmen had accumulated. Now, thanks to the law, they can start from scratch.
The lawyer Marta Bergadà , who represented the couple throughout the legal process, points out that “even today the couple is not able to assimilate the great news that the debt they owed has been forgiven.” The couple, for their part, is relieved and say they can finally breathe easy.
The couple of hoteliers from Murcia found themselves in a disadvantaged situation when, after the 2008 crisis, they had to close all their establishments. According to what they say, both had obtained very good returns with their economic activity, to the point that they managed to expand with five more hospitality businesses. However, the year 2008 arrived, and with it the crisis that negatively affected the entire country. When there was a loss of financing, the income fell drastically, causing a strong economic setback to the family business.
This scenario forced the couple to dip into their savings to pay off debts and keep the business afloat. Finally they had to request several credits to overcome the situation. In addition, it was necessary to resort to payment agreements and deferrals with their employees and suppliers, which they managed to comply with. However, it was impossible for them to pay the mortgage payments on their home, which ended in a foreclosure and auction process.
The couple and their three children had to leave their home, staying on the street. This was a hard emotional blow for everyone, to the point that her husband’s health deteriorated so much that she suffered a stroke, â€says lawyer Marta Bergadà . To this we must add that the rents of the premises were not forgiven by the landlords. Consequently, the debt continued to grow progressively until it was necessary to close the five establishments.
After weighing the situation and discussing it with their lawyer, the couple considered whether the Second Chance Law could be their lifeline.
In the midst of such a complicated situation, the family resorts to the Second Chance Law and requests the exoneration of the unsatisfied liability after a contest without mass. The couple, at first, was “incredulous that the option of being able to start over could be real,” according to Bergadà . In addition, at the time of requesting the forgiveness of debts, one of the creditor entities objected, alleging that first they had to recognize his credit for 17,648 euros for the financing of movable property.
However, the Mercantile Court of Murcia has issued a ruling on this case, dismissing the opposition filed by the bank and exonerating the marriage’s debts. The reason is found in the fact that the bankrupts comply with the requirements set forth in the arts. 487 and 488 of Royal Legislative Decree 1/2020, of May 5, which approves the consolidated text of the Bankruptcy Law.
Therefore, the request cannot be denied, and the judge has granted the exoneration of the unsatisfied liability: 644,903 euros in the case of the man, and 580,917 euros in the case of the woman. In this way, both have managed to get out of a very complicated economic situation, canceling a debt accumulated for 15 years. Even though the entire public debt was not exonerated, the couple of hoteliers has lifted a great weight from their shoulders, and now they have the opportunity to start anew.
The Second Chance Law is a legal procedure that allows natural persons, both individuals and the self-employed, who are in a situation of insolvency, to renegotiate or cancel their debts in whole or in part. Its main objective is to offer a solution to people who cannot meet their payment obligations and who are drowning in debt, giving them the opportunity to start from scratch.
The case of the married couple of Murcian hoteliers demonstrates how far-reaching the Second Chance Law can be in covering large debts, including those that seem insurmountable. Without a doubt, it is a useful tool for people who are in a difficult economic situation and who want to recover their financial stability. Of course, it is important to have the advice and help of a lawyer specialized in this matter before starting the process.
