The decision confirms that ranking depends on when the claim arises not when it is assigned
The Spanish Supreme Court, in its ruling 22/2026, has addressed a frequently contested question in Spanish insolvency law: whether the subordination of a claim based on the creditor being a related party should be determined at the time the claim originates or at the time it is later acquired by assignment.
The court considered a situation that frequently arises in practice. A claim initially granted by an unrelated third party is subsequently assigned to an entity that qualifies as a related party to the debtor. The question is whether that subsequent relationship alters the classification of the claim in insolvency.
The Spanish Supreme Court’s…