A first ranking mortgage does not prevent a creditor from accelerating loan maturity due to debtor insolvency

25 of March, 2025

If the creditor has a secured claim (even if the debt is covered by the “value of the security”, i.e. the claim is in the money), the debtor cannot avoid the effects of the to-term forfeiture by appealing to the existence of that security because the guarantee referred to in Article 1129(1) of the Civil Code (avoiding to-term forfeiture) must then be another additional guarantee.