Coffee chain representative of two well-known Alicante companies traded on the stock exchange Vanadi Coffee and CF Intercity, The first Spanish football club to take to the field has been cleared of its debts by the Commercial Court in Alicante. Second Chance Act.
The representative of both companies, whose duties consisted of negotiating and signing contracts, management of movable and immovable property, legal procedures and even participating in hearings on behalf of the legitimate owners of the companies for which he represented, had in fact requested, among other things, the court to “take away his rights”. “exoneration of unfulfilled obligations”, in his case this was overcome 92,000 euros.
Following the declaration of bankruptcy of creditors without assets and making it mandatory for public information at the BOE, Commercial Court No. 4 of Alicante According to documents available to this media, he agreed to waive payment of debts for which he had contracted with at least a dozen creditors.
no goods
The “asset and rights inventory” presented by Intercity and Vanadi representative reflects income only. Payslip not exceeding 1,400 Euros monthly. According to this document, he does not have any assets and the balance of three accounts in several banking institutions is negative. Data the judge relied on to apply the Second Chance Act, which exempted him from paying these debts.
The acquitted individual has been a representative of Vanadi Capital SL since January 2022 and was appointed to the same position at CF Intercity in March of the same year.
At the end of this week, the share price of the coffee chain was 0.22 euros and the share price of the football club was 0.15.
825 requests
In the first six months of this year alone, the provincial Commercial Courts received up to 825 bankruptcy requests from creditors of natural persons (an average of almost five every dayThis means that the cases recorded in the same period of 2022, when 227 petitions were recorded according to the data recorded by the General Assembly of the Judiciary, are practically multiplied by four.
Moreover, considering that 319 of this total was recorded in the first quarter and 506 in the second quarter, it is a figure that shows that everything will continue to increase. Well the trend is upward.
So much so that, in legal circles, this incident has already begun to be compared with the mortgage guarantee provisions, which involved thousands of lawsuits being filed in courts across the country after the European Court of Justice ruled on these provisions. .
What is known as the Second Chance Act Approved in 2015 and this meant that from then on, individuals could benefit from the bankruptcy procedure just as companies did to get their debts canceled once and for all. Until then, citizens were required to be liable for their unpaid bills for life; This meant in practice the penalty of social ostracism, for example for those who could not pay their mortgage, as the debt remained even after the property was seized. House.