DERECHOS DEL BENEFICIARIO DE GARANTÍAS PERSONALES EN CASO DE MODIFICACIÓN ESTRUCTURAL DEL GARANTE.

A creditor whose credit right is guaranteed by a personal guarantee could see its credit position worsen not only in case of a structural change of the debtor, but also when it is of the guarantor. However, while the current regulations sets forth creditor's protection mechanisms in cases of structural change of the debtor where universal succession takes place, the applicability of those protection mechanisms in the event of a structural change of the guarantor is not obvious. This study aims at arguing in favor of the recognition of the right of opposition of creditors who are beneficiaries of guarantees upon a structural change of the guarantor, as well as pointing out some other resources that might be available to such creditors vis-à-vis the guarantor (or the debtor) in a case of universal succession in the absence of protection mechanisms provided by the law for such a case. [ABSTRACT FROM AUTHOR]