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liquidation judiciaire

English translation: court-supervised liquidation

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:liquidation judiciaire
English translation:court-supervised liquidation
Options:
- Contribute to this entry
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07:43 Mar 13, 2012
    The asker opted for community grading. The question was closed on 2012-03-17 06:54:07 based on peer agreement (or, if there were too few peer comments, asker preference.)


French to English translations [PRO]
Law/Patents - Finance (general)
French term or phrase: liquidation judiciaire
liquidation or winding-up ?

Thanks in advance for your help.

Céline.
Céline NORMIER
France
Local time: 08:18
court-supervised liquidation
Explanation:
Generic, cross-jurisdictional term.

Liquidation is just one stage in a winding-up.

--------------------------------------------------
Note added at 10 hrs (2012-03-13 18:39:14 GMT)
--------------------------------------------------

Do not equate liquidation judiciaire with 'compulsory liquidation'.

"La demande d'ouverture d'une liquidation judiciaire peut être initiée par :

une demande du débiteur lui-même au plus tard dans les 45 jours qui suivent la cessation des paiements lorsqu'aucune procédure de conciliation n'a été engagée dans ce délai ;
une assignation du débiteur par un ou plusieurs de ses créanciers ;
une saisie d'office du tribunal ;
une saisie du tribunal sur requête du ministère public."
(http://droit-finances.commentcamarche.net/contents/procedure...

--------------------------------------------------
Note added at 12 hrs (2012-03-13 19:44:20 GMT)
--------------------------------------------------

Feel free to say "judicial liquidation" if you wish. The translators of the English version of the Code de Commerce posted on Légifrance (one of the better Code translations there, IMO) do so 12 times. They also use the term "court-ordered" 17 times, many in connection with liquidation. And they also describe the proceeding as one of "liquidation subject to judicial supervision" (one time).

Supervision is really what it's about. The court appoints a supervisory judge and an administrator to *do* the liquidation. "Court-ordered" simply means the court orders the proceeding to be held. The creditors can request it, but so can the debtor.

"Liquidation" and "winding-up" are both used loosely for the whole process of ending a company's existence, but lawyers make a useful distinction between dissolution, winding-up, and liquidation -- three phases that occur in that order when a company goes out of existence voluntarily.

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Note added at 23 hrs (2012-03-14 06:47:01 GMT)
--------------------------------------------------

I said at the outset that I was offering a generic *cross-jurisdictional* term. To the two answerers plumping for “compulsory liquidation” as understood in the UK and *some* of its former colonies, I concede that liquidation judiciaire in France is very similar. A “compulsory” liquidation in the UK can be, and not infrequently is, initiated voluntarily – in the ordinary sense of that word – by the debtor, i.e., not against the debtor’s will, just as LJ can be in France, whereas a “voluntary” liquidation is understood not to involve the court at all. In effect, the plain-language meanings of these adjectives are replaced by the consideration of whether the court’s powers of compulsion are invoked in a legal proceeding to effect the liquidation (“compulsory”) or are not (“voluntary”). Got that?

I believe “court-supervised liquidation” will be understood, and cannot be misunderstood, anywhere in the Anglosphere. I cannot say the same about “compulsory liquidation”, especially in jurisdictions which have “court-supervised voluntary liquidation” (as well as the involuntary kind) or where the relevant parallels go by names such as “Chapter 7” or “Chapter 13” and where “voluntary/involuntary” and “compulsory” are *highly* likely to be understood to refer to the will of the debtor as opposed to the involvement of a court. Why risk such confusion when the French term is so plain and simple? Liquidation means liquidation, and judiciaire means that a court is involved. In a supervisory role!


--------------------------------------------------
Note added at 23 hrs (2012-03-14 07:39:40 GMT)
--------------------------------------------------

FWIW, the Dalloz-Harrap's Law Dictionary gives "official receivership" for 'liquidation judiciaire' and "compulsory liquidation" for 'liquidation forcée'.
Selected response from:

rkillings
United States
Local time: 23:18
Grading comment
Thanks a lot for your help.
I chose your answer because this term reflects most the meaning of "liquidation judiciaire" in France.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +2court-supervised liquidationrkillings
5liquidation subject to court supervision/ winding-up by decision of courtpiazza d
4 +1Winding up under the supervision of the court
Emiliano Pantoja
4compulsory liquidation
Cyril B.
5 -1involuntary liquidation
ACOZ
3compulsory liquidation
Tony M


Discussion entries: 14





  

Answers


13 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
compulsory liquidation


Explanation:
As suggested by R+C — and in the absence of context to confirm (or not).

Tony M
France
Local time: 08:18
Native speaker of: Native in EnglishEnglish
PRO pts in category: 196

Peer comments on this answer (and responses from the answerer)
agree  Nikki Scott-Despaigne: A "liquidation judiciaire" is one ordered by the court. A "compulsory liquidation" is also one ordered by the court (E and Wales). There are similarities, there are differences. With out more context, this solution holds good.//Cf my note in discussion
3 hrs
  -> Thanks, Nikki! I think it is the nearest equiavelent in many contexts, and as RK has pointed out the actual liquidation is only one step in the overall winding-up process, which I think is the key point to get across.

disagree  rkillings: Save this term for "liquidation forcée". A debtor can request LJ.
11 hrs
  -> OK, thanks, R! I bow to your (infinitely!) superior knowledge
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14 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
compulsory liquidation


Explanation:
That's what I see most often.

Cyril B.
France
Works in field
Native speaker of: Native in FrenchFrench
PRO pts in category: 19

Peer comments on this answer (and responses from the answerer)
neutral  writeaway: it's certainly what is listed RC dictionary at any rate
41 mins
  -> Thanks

disagree  rkillings: It may be the usual case, but it's not part of the definition.
11 hrs
  -> 2,000 ghits for <"compulsory liquidation" "liquidation judiciaire">... All wrong?

agree  Nikki Scott-Despaigne: Compulsory liquidation (England and Wales) is a perfectly safe translation for E & W contexts. (See additional note in Dicsussion).
22 hrs
  -> Thank you Nikki!
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
Winding up under the supervision of the court


Explanation:
http://www.gov.im/lib/docs/ded/companies/companiesReg/cowind...
http://anisulhaq.weebly.com/winding-up-of-cmpanies.html

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Note added at 1 hora (2012-03-13 08:47:41 GMT)
--------------------------------------------------

http://www.ebooksread.com/authors-eng/great-britain/the-comp...
http://law.justia.com/cases/california/calapp3d/3/428.html

Emiliano Pantoja
Spain
Local time: 08:18
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 24

Peer comments on this answer (and responses from the answerer)
agree  CHAKIB ROULA: I definitely agree with you Cyril
35 mins

neutral  rkillings: Why not just focus on liquidation, as the French term does, and leave aside the issues of dissolution and winding up the debtor's affairs?
11 hrs
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2 hrs   confidence: Answerer confidence 5/5
liquidation subject to court supervision/ winding-up by decision of court


Explanation:
Harrap's

piazza d
France
Local time: 08:18
Specializes in field
Native speaker of: French
PRO pts in category: 16
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15 hrs   confidence: Answerer confidence 5/5 peer agreement (net): -1
involuntary liquidation


Explanation:
Definition from the site indicated below:

Involuntary (compulsory) liquidation
A compulsory liquid ation is where the court makes a winding-up order on the petition of an appropriate person, for example, a creditor.

As opposed to:
Voluntary liquidation

A members’ voluntary liquidation is where the directors or shareholders of a company decide to put it into liquidation and the company is solvent (there are enough assets to pay all the company’s debts).
A creditors ‘ voluntary liquidation is where the directors or shareholders of a company decide to put the company into liquidation and the company is insolvent (there are not enough assets to pay all the company’s debts

--------------------------------------------------
Note added at 23 hrs (2012-03-14 07:29:32 GMT)
--------------------------------------------------

Note that the website uses involuntary or compulsory liquidation to translate this term.


    Reference: http://www.bizhelp24.com/money/bankruptcy/liquidation-volunt...
ACOZ
Australia
Local time: 16:48
Native speaker of: Native in EnglishEnglish
PRO pts in category: 3

Peer comments on this answer (and responses from the answerer)
disagree  rkillings: How is it *necessarily* involuntary, i.e. against the debtor's will, if the debtor himself can ask for it and initiate it? Or did you mean, involuntary for the creditors? ;-)
5 hrs
  -> It's involuntary because it's a "liquidation judiciaire" i.e. imposed by the Court.
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9 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
court-supervised liquidation


Explanation:
Generic, cross-jurisdictional term.

Liquidation is just one stage in a winding-up.

--------------------------------------------------
Note added at 10 hrs (2012-03-13 18:39:14 GMT)
--------------------------------------------------

Do not equate liquidation judiciaire with 'compulsory liquidation'.

"La demande d'ouverture d'une liquidation judiciaire peut être initiée par :

une demande du débiteur lui-même au plus tard dans les 45 jours qui suivent la cessation des paiements lorsqu'aucune procédure de conciliation n'a été engagée dans ce délai ;
une assignation du débiteur par un ou plusieurs de ses créanciers ;
une saisie d'office du tribunal ;
une saisie du tribunal sur requête du ministère public."
(http://droit-finances.commentcamarche.net/contents/procedure...

--------------------------------------------------
Note added at 12 hrs (2012-03-13 19:44:20 GMT)
--------------------------------------------------

Feel free to say "judicial liquidation" if you wish. The translators of the English version of the Code de Commerce posted on Légifrance (one of the better Code translations there, IMO) do so 12 times. They also use the term "court-ordered" 17 times, many in connection with liquidation. And they also describe the proceeding as one of "liquidation subject to judicial supervision" (one time).

Supervision is really what it's about. The court appoints a supervisory judge and an administrator to *do* the liquidation. "Court-ordered" simply means the court orders the proceeding to be held. The creditors can request it, but so can the debtor.

"Liquidation" and "winding-up" are both used loosely for the whole process of ending a company's existence, but lawyers make a useful distinction between dissolution, winding-up, and liquidation -- three phases that occur in that order when a company goes out of existence voluntarily.

--------------------------------------------------
Note added at 23 hrs (2012-03-14 06:47:01 GMT)
--------------------------------------------------

I said at the outset that I was offering a generic *cross-jurisdictional* term. To the two answerers plumping for “compulsory liquidation” as understood in the UK and *some* of its former colonies, I concede that liquidation judiciaire in France is very similar. A “compulsory” liquidation in the UK can be, and not infrequently is, initiated voluntarily – in the ordinary sense of that word – by the debtor, i.e., not against the debtor’s will, just as LJ can be in France, whereas a “voluntary” liquidation is understood not to involve the court at all. In effect, the plain-language meanings of these adjectives are replaced by the consideration of whether the court’s powers of compulsion are invoked in a legal proceeding to effect the liquidation (“compulsory”) or are not (“voluntary”). Got that?

I believe “court-supervised liquidation” will be understood, and cannot be misunderstood, anywhere in the Anglosphere. I cannot say the same about “compulsory liquidation”, especially in jurisdictions which have “court-supervised voluntary liquidation” (as well as the involuntary kind) or where the relevant parallels go by names such as “Chapter 7” or “Chapter 13” and where “voluntary/involuntary” and “compulsory” are *highly* likely to be understood to refer to the will of the debtor as opposed to the involvement of a court. Why risk such confusion when the French term is so plain and simple? Liquidation means liquidation, and judiciaire means that a court is involved. In a supervisory role!


--------------------------------------------------
Note added at 23 hrs (2012-03-14 07:39:40 GMT)
--------------------------------------------------

FWIW, the Dalloz-Harrap's Law Dictionary gives "official receivership" for 'liquidation judiciaire' and "compulsory liquidation" for 'liquidation forcée'.

rkillings
United States
Local time: 23:18
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1102
Grading comment
Thanks a lot for your help.
I chose your answer because this term reflects most the meaning of "liquidation judiciaire" in France.

Peer comments on this answer (and responses from the answerer)
agree  Aquamarine76
20 mins

agree  AllegroTrans: a good option, which avoids "localising" the term to the US or UK (where things are of course different)
5 hrs

agree  1045
9 hrs

disagree  Cyril B.: Liquidation in FR can be 'judiciaire' as opposed to 'amiable', that's 'compulsory' vs 'voluntary' in EN. http://fr.wikipedia.org/wiki/Liquidation_judiciaire http://en.wikipedia.org/wiki/Liquidation
16 hrs
  -> How is it necessarily compulsory, i.e. against the debtor's will, if the debtor himself can ask for it and initiate it?

neutral  Nikki Scott-Despaigne: Works quite well, as descriptive. Yes, it is supervised by the court, initiated by a number of situations as you point out. The court issues the order though, idem in a "compuslory liqudiation" (UK), which can also be petionned for by a n° of entities.
1 day13 hrs
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Mar 13, 2012 - Changes made by writeaway:
Field (specific)Law (general) » Finance (general)


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