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French to English translations [PRO]
Bus/Financial - Law: Contract(s) / Contract between a company and their bankers | | French term or phrase: de troisième rang | The whole phrase is "Convention de nantissement de troisième rang de fonds de commerce".
I can find translations for "de premier rang" and "de second rang" but nothing for "de troisieme rang".
I know what "de troisième rang " means, I've had it explained to me but I just don't know the right terminology.
Here's the explanation I was given:
"Quand une personne ou une société est en liquidation judiciaire, ses créanciers obtiennent un nantissement de leurs créances (une sauvegarde de leur droit à récupérer leur argent) par exemple : le premier rang constitue généralement les salariés de l'entreprise, le second rang l'état (urssaf...) et le troisième rang, les autres (qui généralement n'ont rien car il ne reste plus de sous)."
Can anyone help me find the right words? |
| | | third priority | Explanation:
where de premier rang= first priority.
Used often for order of creditors in such situations.
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Note added at 10 minutes (2009-11-06 13:47:25 GMT)
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http://paydowndebt.unl.edu/who_to_pay.html |
| Selected response from:
  Michael Lotz
United States
Local time: 19:08
| Grading comment Thanks - the link was most helpful :)
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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8 mins confidence:   peer agreement (net): +1
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| Changes made by editors |
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| Nov 11, 2009 - Changes made by Michael Lotz: | | Created KOG entry | KudoZ term => KOG term | | Nov 6, 2009 - Changes made by Stéphanie Soudais: | | Term asked | de troisieme rang => de troisième rang |
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