On judgment no. 134/2016 of the Spanish Supreme Court (First Chamber) of 4 March 2016

Article 92(5) LC provides that in insolvency proceedings, the claims held by parties related to the insolvent debtor who is a legal entity for loans or credit facilities in general shall be regarded as subordinated claims. This article in combination with the one referred to above determines the subordination of the claims between companies belonging to the same group for loans, credit facilities and other instruments with an analogous purpose to that of a loan…