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Bulgarian to English translations [PRO]
Law/Patents - Law (general) / Register of Special Pledges | | Bulgarian term or phrase: вписано изоставяне на изпълнение | | This is an item in a list qualifying the rights of a company (вписаните права) entered in the Register of Special Pledges (Регистър на особените залози) |
| | | Application for entry of abandonment of execution | Explanation:
I know it sounds iffy, but... have a look at Form 7 about midway downpage here:
http://www.mjeli.government.bg/croz/docs/enUstroistvo.htm
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Note added at 3 hrs (2011-06-21 09:23:59 GMT)
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Actually, the "application for" drops out (I copy-pasted it from the site) and we are left with "entered abandonment of execution".
This has to be regarded as the "official" Bulgarian rendering, since it is on the MoJ website. It is also a direct rendering of the Bulgarian original. Still, it leaves much to be desired in terms of 'looking and souning right'.
In a more English register, it might be something like "recorded [listed, registered, noted, confirmed] withdrawal of intent to enforce". "Enforcement of [on] security" means that a lender (or anyone with a secured [collateralised in US English; securitised] claim) is taking over the pledged security (collateral). Like, there was a fair amount of enforcement of security going down in the UK in the early 1990s with the negative equity crisis forcing home owners to part with their mortgage security (their homes).
The Register of Special Pledges (ROZ) was set up to ease liquidity management by Bulgarian banks and local authorities. Say a local authority has bought too many government bonds and as a result has no cash. It pledges X-amount of bonds into the ROZ and gets their current cash equivalent in the form of a secured loan from a bank (the security being the pledged bonds). If it fails to repay the loan, the bank "enforces its security" and gets its money back, and the local authority is left X-amount of bonds short.
So, if you want to come up with something that is internationally understandable, I'd go with "recorded withdrawal of intent to enforce". |
| Selected response from:
 Peter Skipp
Local time: 00:18
| Grading comment Благодаря!
4 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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Automatic update in 00:
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48 mins confidence:  peer agreement (net): +3 Application for entry of abandonment of execution
Explanation:
I know it sounds iffy, but... have a look at Form 7 about midway downpage here:
http://www.mjeli.government.bg/croz/docs/enUstroistvo.htm
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Note added at 3 hrs (2011-06-21 09:23:59 GMT)
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Actually, the "application for" drops out (I copy-pasted it from the site) and we are left with "entered abandonment of execution".
This has to be regarded as the "official" Bulgarian rendering, since it is on the MoJ website. It is also a direct rendering of the Bulgarian original. Still, it leaves much to be desired in terms of 'looking and souning right'.
In a more English register, it might be something like "recorded [listed, registered, noted, confirmed] withdrawal of intent to enforce". "Enforcement of [on] security" means that a lender (or anyone with a secured [collateralised in US English; securitised] claim) is taking over the pledged security (collateral). Like, there was a fair amount of enforcement of security going down in the UK in the early 1990s with the negative equity crisis forcing home owners to part with their mortgage security (their homes).
The Register of Special Pledges (ROZ) was set up to ease liquidity management by Bulgarian banks and local authorities. Say a local authority has bought too many government bonds and as a result has no cash. It pledges X-amount of bonds into the ROZ and gets their current cash equivalent in the form of a secured loan from a bank (the security being the pledged bonds). If it fails to repay the loan, the bank "enforces its security" and gets its money back, and the local authority is left X-amount of bonds short.
So, if you want to come up with something that is internationally understandable, I'd go with "recorded withdrawal of intent to enforce".
| Peter Skipp
Local time: 00:18
Native speaker of:  Bulgarian, English
PRO pts in category: 20
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| | | Notes to answerer
Asker: Thanks Peter. You're right, it's quite a tongue twister.
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