Historic Exoneration in Alicante: How a Businessman Cancelled Over Six Million in Debt with Multiple Banks

The Commercial Court of Alicante No. 3, based in Elche, issued an Order dated April 29, 2025, now final, in favour of a local businessman, granting the exoneration of debts with various credit entities amounting to €6,221,988. This is one of the highest figures known for debt exoneration in the province of Alicante. The legal direction of the procedure was assumed by the managing partner of Grupo Asesor Ros SLP, lawyer Alejandro Pérez.

The businessman whose debts have been exonerated was a member of the Board of Directors of a group of companies headquartered in Orihuela. The business group agreed on December 21, 2021, with a banking pool of seven entities to refinance the group's debts. The manoeuvre was personally guaranteed by the businessman, a client of the firm. After the group of companies entered bankruptcy, the various banks sought to have the executive, as an individual, pay €6,221,988.

Faced with this situation, the businessman filed for personal bankruptcy. Notably, one of the banks, a creditor of €3,080,997, requested the appointment of a bankruptcy administrator under the procedures of Article 37 ter of the Bankruptcy Law to prevent the Court from granting the exoneration of unpaid debts. However, following the report of the bankruptcy administration and the arguments made by lawyer Alejandro Pérez, the Court recognised the exoneration of the defendant's debts, totalling €6,221,988.

The defence of the now exonerated highlighted that "this judicial resolution is of great significance for those entrepreneurs who, to secure bank financing for their companies, had to guarantee loan operations with their personal assets at the bank's imposition. If the circumstances are right, the businessman can have the Court exonerate the debt with the bank, allowing them to start anew, embarking on a new personal and business project from scratch, unburdened by the weight of bank debt."