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insolvency prosecutor

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18:20 Oct 26, 2006
This question was closed without grading. Reason: No acceptable answer

English to German translations [PRO]
Bus/Financial - Business/Commerce (general) / Gap analysis
English term or phrase: insolvency prosecutor
Context: Gap analysis for a German company, the text was apparently written by a German.

Here's the passage: "The process [of selling inventory as collateral to customers] is strongly related to different and complex tax issues that have to be fulfilled. Especially if XY does make use of the inventory security. In addition, also the posting is quite complex. The whole process requires close cooperation with insolvency prosecutor and legal department."

I guess the term is a German "construct". Who's got any idea what it may mean?
erkaa
Local time: 18:09
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Summary of answers provided
4 +5Insolvenzverwalter
Hans G. Liepert
4 -1Konkursverwalterlbc22


Discussion entries: 3





  

Answers


12 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +5
Insolvenzverwalter


Explanation:
since there is nothing like a 'prosecutor' involved in the insolvency procedure, it is without doubt the Inslvenzverwalter

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Note added at 3 Stunden (2006-10-26 21:34:05 GMT)
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After 35 years in the German industry I state, that I never have heard of an insolvency prosecutor within a company.
If the "Insolvenzverfahren" has been opened, there is only ONE Person who decides (and is liable): der Insolvenzverwalter. He is more powerful than Our Lord and definitely better paid. Also the 'legal dept.' has no rights whatsoever - it is the Insolvenzverwalter (being a lawyer himself).

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Note added at 3 Stunden (2006-10-26 21:42:57 GMT)
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Since your context doesn't give a hint, wich kind of insolvency it is:
There is the (remote) possbility under certein circumstances to have the winding up (or restructuring) done by own personnel (see §§275, 276 InsO). But you need a "Sachwalter" as well, who is not an employee. He has less rights than the Insolvenzverwalter, but still can inform the court about problems (which in turns most probably ends the "Selbstverwaltung")


Hans G. Liepert
Switzerland
Local time: 18:09
Works in field
Native speaker of: Native in GermanGerman
PRO pts in category: 684
Notes to answerer
Asker: Sorry, but "insolvency administrator" is mentioned in another part of the text; the term in question seems to designate a department of the company.


Peer comments on this answer (and responses from the answerer)
agree  Peter Gennet
5 mins
  -> danke, Peter

agree  Jonathan MacKerron: good eye
7 mins
  -> a blind man could have sensed it with a rubber stick ;0)

agree  Ingeborg Gowans: hope you are feeling better, Hans
27 mins
  -> Thanks, feel like dying of plague (men are less patient, I guess)

agree  erika rubinstein
1 hr
  -> thanks, Erika

agree  Michaela Müller
15 hrs
Login to enter a peer comment (or grade)

14 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
Konkursverwalter


Explanation:
Im Falle eines Konkurses ist es der Konkursverwalter,
im Falle einer Liquidierung, der Liquidierungsverwalter

lbc22
United Kingdom
Local time: 17:09
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 2

Peer comments on this answer (and responses from the answerer)
disagree  Hans G. Liepert: We don't have Konkurs anymore in Germany since many years
1 day10 hrs
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