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procédure de redressement

English translation: see comment

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15:43 Apr 7, 2008
French to English translations [PRO]
Law/Patents - Law: Contract(s)
French term or phrase: procédure de redressement
This is in a list of situations that may occur in the course of and lead to the termination of the contract:

"règlement amiable, de procédure de redressement ou de liquidation judiciaire de l’une ou l'autre des Parties"

I have seen inconsistent translations for this term, i.e. "composition" and "liquidation"
B D Finch
France
Local time: 13:46
English translation:see comment
Explanation:
If this is referring to 'redressement judiciaire' it's the process before bankruptcy/liquidation - similar to being in administration or Chapter 11 in the US. I've seen various translations for this, such as court-supervised reorganisation, reorganisation proceedings, etc.

KudoZ) French to English translation of redressement judiciaire: court-supervised reorganisation [Finance (general) (Bus/Financial)].
www.proz.com/kudoz/676774

*procédure de redressement judiciaire - court-supervised recovery procedure for company in financial difficulty procès - law-suit ...
www.anglophone-direct.com/Vocabulary-legal-and-business

.. to his outstanding claims on the court-supervised liquidation of Gilson. ... the event of a court-supervised recovery scheme (redressement judiciaire), ...
eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&numdoc=61995J0235&lg=en

La décision d’ouverture de redressement ou de liquidation judiciaire : the decision to open a court-supervised recovery plan or liquidation of the company ...
www.users.globalnet.co.uk/.../www.greffe-tc-paris.fr/anglai...

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Note added at 2 hrs (2008-04-07 17:50:42 GMT)
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# Redressement Judiciare. If the court considers there is a viable business, it appoints an administrator who manages the business through an observation period, which normally ends in piecemeal disposal. There is no time limit to this period. Assuming the company is not continued, the process moves to liquidation.
# Liquidation Judiciare. Activities cease, and the business is wound up under court supervision.

http://www.turnaround.org/Publications/Articles.aspx?objectI...

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Note added at 16 hrs (2008-04-08 08:16:05 GMT)
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In response to your note, I would say that 'going into administration' would probably be the nearest equivalent.

http://www.proz.com/kudoz/french_to_english/law:_contracts/1...
Selected response from:

xxxcmwilliams
United Kingdom
Local time: 12:46
Grading comment
Thanks. This was extremely useful and comprehensive.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4bankruptcy proceedings
Michael Lotz
4see commentxxxcmwilliams
4formal arrangement in favour of creditors
AllegroTrans
2bailout lawsuitMatthewLaSon


Discussion entries: 7





  

Answers


2 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5
bailout lawsuit


Explanation:
Hello,

I'm not sure that this is the same thing as a "procédure de faillite" (bankruptcy lawsuit). Do you think so? It's not a full-on "bankruptcy lawsuit"? It's what happens before, perhaps? The court allows the company to stay afloat by cancelling some debts and forcing them to make some payments to creditors.

MatthewLaSon
Local time: 07:46
Does not meet criteria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 314
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
formal arrangement in favour of creditors


Explanation:
as there are 3 term here that need translating and it's intended to be a "catch all" situation, I will suggest translations for all 3:
règlement amiable - informal arrangement in favour of creditors
procédure de redressement - formal arrangement in favour of creditors (i.e. under Court supervision
liquidation judiciaire - compulsory winding-up (i.e. by the Court)


AllegroTrans
United Kingdom
Local time: 12:46
Meets criteria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 414
Notes to answerer
Asker: Thanks AT.

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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
see comment


Explanation:
If this is referring to 'redressement judiciaire' it's the process before bankruptcy/liquidation - similar to being in administration or Chapter 11 in the US. I've seen various translations for this, such as court-supervised reorganisation, reorganisation proceedings, etc.

KudoZ) French to English translation of redressement judiciaire: court-supervised reorganisation [Finance (general) (Bus/Financial)].
www.proz.com/kudoz/676774

*procédure de redressement judiciaire - court-supervised recovery procedure for company in financial difficulty procès - law-suit ...
www.anglophone-direct.com/Vocabulary-legal-and-business

.. to his outstanding claims on the court-supervised liquidation of Gilson. ... the event of a court-supervised recovery scheme (redressement judiciaire), ...
eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&numdoc=61995J0235&lg=en

La décision d’ouverture de redressement ou de liquidation judiciaire : the decision to open a court-supervised recovery plan or liquidation of the company ...
www.users.globalnet.co.uk/.../www.greffe-tc-paris.fr/anglai...

--------------------------------------------------
Note added at 2 hrs (2008-04-07 17:50:42 GMT)
--------------------------------------------------

# Redressement Judiciare. If the court considers there is a viable business, it appoints an administrator who manages the business through an observation period, which normally ends in piecemeal disposal. There is no time limit to this period. Assuming the company is not continued, the process moves to liquidation.
# Liquidation Judiciare. Activities cease, and the business is wound up under court supervision.

http://www.turnaround.org/Publications/Articles.aspx?objectI...

--------------------------------------------------
Note added at 16 hrs (2008-04-08 08:16:05 GMT)
--------------------------------------------------

In response to your note, I would say that 'going into administration' would probably be the nearest equivalent.

http://www.proz.com/kudoz/french_to_english/law:_contracts/1...

xxxcmwilliams
United Kingdom
Local time: 12:46
Does not meet criteria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 47
Grading comment
Thanks. This was extremely useful and comprehensive.
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
bankruptcy proceedings


Explanation:
various French law provisions permit an entity to go into bankruptcy proceedings which carries various options for voluntary or involuntary actions with respect to creditors. Procédure de redressement is a particular and specific option under court supervision. Clearly it would be a cause to terminate a contract.
ref: Vocabulaire juridique (Gérard CORNU)

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Note added at 1 heure (2008-04-07 17:03:51 GMT)
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http://www.groupe-sos.org/36/Cessation-de-paiement-redressem...

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Note added at 1 heure (2008-04-07 17:04:09 GMT)
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w.groupe-sos.org/36/Cessation-de-paiement-redressement-liquidation-et-dissolution

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Note added at 1 heure (2008-04-07 17:05:11 GMT)
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http://fr.wikipedia.org/wiki/Cessation_de_paiements

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Note added at 18 heures (2008-04-08 10:29:59 GMT)
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yes, UK synonym is "going into or put into administration". US term would be "bankruptcy proceedings".

Michael Lotz
United States
Does not meet criteria
Native speaker of: English
PRO pts in category: 239

Peer comments on this answer (and responses from the answerer)
neutral  xxxcmwilliams: I think the nearest US equivalent would be Chapter 11 bankruptcy proceedings - http://encyclopedia.farlex.com/Chapter 11 bankruptcy
18 hrs
  -> agree with you on bankruptcy; which chapter (7 vs. 11 vs 13) depends on the entity. So for purpose of this question I left out chapter. And we agree UK term is "administration"....
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