Although this is a controversial issue, every time more and more Courts are ruling that release and payment schedule accepted by the purchaser on the meeting of creditors' agreement don't apply to Bank Guarantees.
More info on:
www.gmlegalexperts.com
http://gmlegalexperts.blogspot.com.es/2014/05/another-court-rules-that-release-and.html
Kind Regards,
Guadalupe Sánchez
GM LEGAL EXPERTS