Subordinated credits

Authors

  • Luísa Lomba Carvalho Escola Superior de Tecnologia e Gestão de Felgueiras do Instituto Politécnico do Porto (ESTGF/IPP) http://orcid.org/0000-0002-0636-4652
  • Maria João Machado Professora Adjunta da Escola Superior de Tecnologia e Gestão do Politécnico do Porto (ESTG/P. Porto). Membro do CIICESI/ESTG.

Abstract

The subordinated credit class constitutes the main innovation of the Insolvency Code and Corporate Recovery (CIRE) in this area, although it existsin other legal systems, particularly the US (Bankruptcy Code), Germany (Insolvenzordnung) and Spain (Ley Concursal). These credits are listed exhaustively in Article 48 of CIRE, and their payment takes place only after fully paid all the other claims, having in consideration that the creditors who integrate this class should keep a less favorable regime, taking also into account certain objective reasons which individualize them and characterize them as such. As a novelty in the Portuguese legal system, the subordinated credit class is an issue that divides both doctrine and jurisprudence and therefore is controversial in relation to some of its categories.

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Published

2016-12-09

How to Cite

Carvalho, L. L., & Machado, M. J. (2016). Subordinated credits. Revista Jurídica Portucalense, (20), 195–218. Retrieved from https://revistas.rcaap.pt/juridica/article/view/9543

Issue

Revista Jurídica n.º 20 (2016)

Section

SCIENTIFIC RESEARCH

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