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in bonis

English translation: solvent

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:in bonis
English translation:solvent
Entered by: Emma B
Options:
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08:32 May 20, 2005
French to English translations [PRO]
Law/Patents - Law (general)
French term or phrase: in bonis
cession in bonis
Emma B
Local time: 00:40
solvent
Explanation:
According to a glossary for an insurance company which I was translating on Tuesday (!), in bonis just means (as far as they're concerned) a company which is not in "redressement" or "liquidation judiciare".

They used it in other documents in all sorts of contexts which weren't strictly 'legal' as such (professional, yes; legal, no) so I opted for "solvent" as the basic meaning (because a company in the 2 situations above is effectively insolvent and in bonis is just the opposite).

You didn't ask for "cession", there are lots of kudoz entries already and maybe you already know what it is in your context, but if it helps:
"Cession" from a French point of view is effectively the act of transfering something from one party to another.
In English depending on the context, this can be translated as, for example:
disposal (of assets, to someone else)
relinquishment (of rights, but to someone else, not just "give them up and they vanish into thin air)
subrogation (transfer of contractual obligations)


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Note added at 2 hrs 40 mins (2005-05-20 11:13:36 GMT)
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Your little added note therefore in fact almost answers the question for you. If we assume that the use of \'bankrupt\' is shorthand (yours or theirs) for \"not in administration or liquidation\", then that\'s exactly what \"in bonis\" is.

The point is that the \'cession\' in question is not being somehow \'forced\' upon the company because they are in dire financial straits, they are transacting from a solvent position - because they want to, not because they have to.

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Note added at 2 hrs 46 mins (2005-05-20 11:18:52 GMT) Post-grading
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I tried to find a web ref with a decent definition - not easy. But if you google [\"in bonis\" +redressement] you will see some references where the situation for a co. \'in bonis\' versus one in \'redressement\' is discussed.
Selected response from:

Charlie Bavington
Local time: 23:40
Grading comment
Thanks, this confirms the information that I was provided that "in bonis" refers to companies not in bankruptcy proceedings.
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +1solventCharlie Bavington
3in bonis transfer of ownership
Conor McAuley
2cession or transfer of material goodsBruce Berger


Discussion entries: 1





  

Answers


20 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5
cession or transfer of material goods


Explanation:
Found on http://www.clickdocs.co.uk/glossary/de-bonis-asportatis.htm:
The Latin term "De bonis asportatis" means, in a UK legal context: "of goods carried away."
I'm kinda' guessing here....


    Reference: http://www.clickdocs.co.uk/glossary/de-bonis-asportatis.htm
Bruce Berger
Local time: 00:40
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
solvent


Explanation:
According to a glossary for an insurance company which I was translating on Tuesday (!), in bonis just means (as far as they're concerned) a company which is not in "redressement" or "liquidation judiciare".

They used it in other documents in all sorts of contexts which weren't strictly 'legal' as such (professional, yes; legal, no) so I opted for "solvent" as the basic meaning (because a company in the 2 situations above is effectively insolvent and in bonis is just the opposite).

You didn't ask for "cession", there are lots of kudoz entries already and maybe you already know what it is in your context, but if it helps:
"Cession" from a French point of view is effectively the act of transfering something from one party to another.
In English depending on the context, this can be translated as, for example:
disposal (of assets, to someone else)
relinquishment (of rights, but to someone else, not just "give them up and they vanish into thin air)
subrogation (transfer of contractual obligations)


--------------------------------------------------
Note added at 2 hrs 40 mins (2005-05-20 11:13:36 GMT)
--------------------------------------------------

Your little added note therefore in fact almost answers the question for you. If we assume that the use of \'bankrupt\' is shorthand (yours or theirs) for \"not in administration or liquidation\", then that\'s exactly what \"in bonis\" is.

The point is that the \'cession\' in question is not being somehow \'forced\' upon the company because they are in dire financial straits, they are transacting from a solvent position - because they want to, not because they have to.

--------------------------------------------------
Note added at 2 hrs 46 mins (2005-05-20 11:18:52 GMT) Post-grading
--------------------------------------------------

I tried to find a web ref with a decent definition - not easy. But if you google [\"in bonis\" +redressement] you will see some references where the situation for a co. \'in bonis\' versus one in \'redressement\' is discussed.

Charlie Bavington
Local time: 23:40
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 97
Grading comment
Thanks, this confirms the information that I was provided that "in bonis" refers to companies not in bankruptcy proceedings.

Peer comments on this answer (and responses from the answerer)
agree  Catherine Christaki
4 hrs
Login to enter a peer comment (or grade)

9 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
in bonis transfer of ownership


Explanation:
The Latin term is used in English - from Roman law concepts.

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Note added at 10 mins (2005-05-20 08:43:45 GMT)
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http://66.102.9.104/search?q=cache:-ItKcY43IvwJ:www.hrothgar...

From UK House of Lords judgement.

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Note added at 12 mins (2005-05-20 08:45:02 GMT)
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Or simply, \"in bonis sale\"

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Note added at 14 mins (2005-05-20 08:47:05 GMT)
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It was originally introduced
in order to transform the simple possession of a thing (***in bonis***
habere) into Roman proprietorship.

To possess this right, *it was not sufficient to have
entered into possession of the thing in any manner*; the
acquisition was bound to have that character of *publicity*, which
was given by the observation of solemn forms, prescribed by the
laws, or the *uninterrupted exercise of proprietorship during a
certain time*: the Roman citizen alone could acquire this
proprietorship. **Every other kind of possession, which might be
named imperfect proprietorship, was called \"***in bonis habere***.**\"

http://66.102.9.104/search?q=cache:lPeYW59PYYoJ:gd.cnread.ne...


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Note added at 19 mins (2005-05-20 08:52:17 GMT)
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The first piece of text here may be the most relevant (however I would leave it in Latin to play safe if I were you):

The agreement confirms the binding offer that was approved by Proton\'s board of directors on the 25th of May, in which Proton will submit a capital increase of 70 million Euro in MV Agusta leading to a restructuring of the credit and the exit ***in bonis*** from the current status of \"controlled administration\".

The collateral for the transaction is 29,928 first lien residential mortgage loans, classified as ***in bonis*** (i.e. performing), originated by Banca Popolare di Milano. BPM is the fourth largest co-operative bank in Italy with a strong market presence in Lombardy and headquarters in Milan.

L\'exploitation est \" ***in bonis*** \" et a dégagée un bénéfice net de plus de 700 000 FF au cours du dernier exercice.

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Note added at 4 hrs 51 mins (2005-05-20 13:23:52 GMT) Post-grading
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Sorry I was well off track.

Conor McAuley
France
Local time: 00:40
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 82
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