{"id":9958,"date":"2026-06-26T08:00:15","date_gmt":"2026-06-26T05:00:15","guid":{"rendered":"https:\/\/rockbridge.legal\/is-your-property-securing-someone-elses-loan-the-senate-changes-practice-by-establishing-the-pledgors-right-of-recourse\/"},"modified":"2026-07-16T11:44:10","modified_gmt":"2026-07-16T08:44:10","slug":"is-your-property-securing-someone-elses-loan-the-senate-changes-practice-by-establishing-the-pledgors-right-of-recourse","status":"publish","type":[],"link":"https:\/\/rockbridge.legal\/en\/is-your-property-securing-someone-elses-loan-the-senate-changes-practice-by-establishing-the-pledgors-right-of-recourse\/","title":{"rendered":"Is your property securing someone else&#8217;s loan? The Senate changes practice by establishing the pledgor&#8217;s right of recourse!"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9958\" class=\"elementor elementor-9958 elementor-9137\" data-elementor-settings=\"{&quot;ha_cmc_init_switcher&quot;:&quot;no&quot;}\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-e8ccec7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e8ccec7\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-94e0123\" data-id=\"94e0123\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f4da485 elementor-widget elementor-widget-post-info\" data-id=\"f4da485\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-a470701 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t<a href=\"https:\/\/rockbridge.legal\/en\/2026\/06\/26\/\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-calendar\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\t<time>June 26, 2026<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-1d75820 elementor-inline-item\">\n\t\t\t\t\t\t<a href=\"#\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-user-circle\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-custom\">\n\t\t\t\t\t\t\t\t\t\tBy Viktorija Cherkas\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-49121ae elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"49121ae\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Third-party security is common in financing transactions: one company pledges its assets for another company&#8217;s credit, or a shareholder or ultimate beneficial owner secures their company&#8217;s obligations with personal property, or one holding company pledges its assets for the financing of another. The security provider does not borrow themselves but pledges their property, thereby assuming financial risk for the benefit of another. Until now, such a pledgor was limited in their rights to recover losses from the debtor if the pledged property was used to satisfy the creditor&#8217;s claim. However, recent Senate practice indicates a change in case law.   <\/p><p>A borrower entered into a loan agreement with a bank. The obligation was secured by another person who pledged real estate belonging to them, without being involved in the loan themselves. When the borrower ceased payments, the bank directed recovery against the pledged property. The security provider turned to the court against the debtor, demanding compensation for the reduction in assets.   <\/p><h5>What is changing and why?<br><br><\/h5><p>Articles 1704 and 1705 of the Civil Law provide that a guarantor who pays the creditor on behalf of the debtor automatically acquires the creditor&#8217;s claim against the debtor (subrogation). There was no such direct provision for a pledgor.    2017. In a 2017 judgment (SKC 76\/2017), the Senate concluded that the pledgor is not entitled to a right of recourse because a guarantee is an obligation right, while a pledge is a property right. The result was economically inconsistent: the guarantor and the pledgor assume equivalent risk, but only the guarantor was protected. <\/p><p>However, this inconsistency has been rectified \u2013 in the judgment of May 27, 2026, in case No. SKC 32\/2026, the Senate changed this practice, qualified this difference as an open loophole in the law, and filled it by applying Articles 1704 and 1705 of the Civil Law to the pledgor by analogy. The reasoning is based on the fact that the guarantor and the pledgor are in a substantially similar economic position \u2013 both facilitate the receipt of credit by assuming risk for another&#8217;s debt. In the case of a pledgor, the transfer of the claim is even more justified because, unlike a guarantor, a pledgor cannot demand that the creditor first direct recovery against the debtor&#8217;s property. The practice of other countries also confirms this approach: Section 1143 of the German Civil Code and Section 1358 of the Austrian General Civil Code provide that anyone who covers another&#8217;s debt with their property succeeds to the rights of the creditor.          <\/p><p>Consequently, the creditor&#8217;s claim against the principal debtor shall henceforth pass to the pledgor to the extent that it has been satisfied by the sale of the pledged item. The Senate distinguishes between two independent claims: <\/p><p>First \u2013 the creditor&#8217;s claim acquired through subrogation, which passes automatically; that is, the creditor&#8217;s claim, now satisfied, passes to the pledgor. Specifically, on this basis, exactly as much is due as the creditor received from the realization of the pledge, and no more. <\/p><p>Second \u2013 arising from the mutual legal relationship between the pledgor and the debtor, which is most often an authorization or agency without authority (negotiorum gestio). On this basis, the pledgor may claim reimbursement of expenses, namely, compensation for the reduction of their assets, including the value of the pledged asset and the costs associated with its realization. This claim exists independently of the subrogation claim.  <\/p><p>Waiver of the right of recourse is possible if the parties agree to it, but it is not presumed. This means that if security is given, it is automatically assumed that the pledgor expects to recover the loss from the debtor; the opposite \u2013 that the pledgor has waived this right \u2013 must be proven by the party asserting it. <\/p><h5>Who benefits from these insights?<br><br><\/h5><p>In group and shareholder financing, the security provider now has a guaranteed basis to recover losses from the debtor if the security is utilized. Since a waiver of recourse is not presumed, it is worthwhile for the parties to clearly regulate this issue in the contract. The more precisely the underlying relationship is formulated \u2013 authorization, intra-group loan, compensation agreement \u2013 the more predictable the recovery of losses becomes.  <\/p><p>In structuring security and due diligence, it must henceforth be taken into account that the pledgor has a recourse claim against the debtor. 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Contact me <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-c852c3a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c852c3a\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5a7ae2d\" data-id=\"5a7ae2d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-965d765 elementor-widget elementor-widget-image\" data-id=\"965d765\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1080\" height=\"1080\" src=\"https:\/\/rockbridge.legal\/wp-content\/uploads\/2024\/01\/Viktorija-Cherkas-2.png\" class=\"attachment-full size-full wp-image-9338\" alt=\"\" srcset=\"https:\/\/rockbridge.legal\/wp-content\/uploads\/2024\/01\/Viktorija-Cherkas-2.png 1080w, https:\/\/rockbridge.legal\/wp-content\/uploads\/2024\/01\/Viktorija-Cherkas-2-300x300.png 300w, https:\/\/rockbridge.legal\/wp-content\/uploads\/2024\/01\/Viktorija-Cherkas-2-1024x1024.png 1024w, https:\/\/rockbridge.legal\/wp-content\/uploads\/2024\/01\/Viktorija-Cherkas-2-150x150.png 150w, https:\/\/rockbridge.legal\/wp-content\/uploads\/2024\/01\/Viktorija-Cherkas-2-768x768.png 768w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7097f3a\" data-id=\"7097f3a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9eedc6b elementor-widget elementor-widget-heading\" data-id=\"9eedc6b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">VIKTORIJA Cherkas<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9967d12 elementor-widget elementor-widget-heading\" data-id=\"9967d12\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">PARTNER, ATTORNEY AT LAW<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ec9b56d elementor-widget elementor-widget-text-editor\" data-id=\"ec9b56d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Viktorija is a Latvian legal expert recognized by international directories in project management and mergers and acquisitions (M&#038;A), including energy projects (development of wind and solar park projects). <\/p><p>Viktorija also provides legal advice for day-to-day business operations \u2013 from company formation, management, shareholder relations, restructuring, and other business-related matters. At the same time, Viktorija is an expert in real estate development, acquisition, and leasing, and provides assistance to individuals and companies regarding relocation or property acquisition in Spain. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d08df6b elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"d08df6b\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"tel:%20(+371)%2029340444\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-phone-alt\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">  (+371) 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\u012bpa\u0161ums\">\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"tab-label\">Nekustamais \u012bpa\u0161ums<\/span>\n\t\t<\/a>\n\t<\/div>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Third-party security is common in financing transactions: one company pledges its assets for another company&#8217;s credit, or a shareholder or ultimate beneficial owner secures their company&#8217;s obligations with personal property, or one holding company pledges its assets for the financing of another. The security provider does not borrow themselves but pledges their property, thereby assuming [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":9960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[57],"tags":[],"class_list":["post-9958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/posts\/9958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/comments?post=9958"}],"version-history":[{"count":1,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/posts\/9958\/revisions"}],"predecessor-version":[{"id":9961,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/posts\/9958\/revisions\/9961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/media\/9960"}],"wp:attachment":[{"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/media?parent=9958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/categories?post=9958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/tags?post=9958"},{"taxonomy":"type","embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/type?post=9958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}