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The prescription of the right of the guarantees execution

The High Court of Cassation and Justice has ruled that the opening of insolvency proceedings against the principal debtor has the effect of suspending the course not only barred from it, but the suspension flowing prescription rate for mortgage. The High Court also said that since the right to execute main obligations is not prescribed, the prescription is suspended, no right to execute guarantees, as primary duty accessories can not be prescribed, having regard to the “accessory follows the principal” estate collateral with an ancillary to bank loan agreements. (Decision no. 3113 of 7 June 2012 passed in Appeal Civil Division II of the High Court of Cassation and Justice seeking a declaration mortgage statute of limitations established by real estate collateral)

>> The source: JURIDICE.ro

Alexandru VLASTON

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