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Berichtigung einer Verbindlichkeit

English translation: fulfilment of all liabilities

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15:59 Aug 14, 2006
German to English translations [PRO]
Law/Patents - Finance (general) / Insolvency
German term or phrase: Berichtigung einer Verbindlichkeit
For some reason, none of the usual sources have anything to say about 'Berichtigung' in the sense of paying off/discharging a liability.

Does it have any technical legal meaning over and above 'settle' or 'discharge' and, if so, how do we reflect this in English?

I have seen 'after deduction of liabilities' for 'nach Berichtigung der Verbindlichkeiten' but I feel this is a loose translation.

Here it is in all its glory: http://bundesrecht.juris.de/aktg/__271.html

TIAFYH
Kieran McCann
United Kingdom
Local time: 19:05
English translation:fulfilment of all liabilities
Explanation:
In the translation of the German Stock Corporation Act (authors: Hannes Schneider and Martin Heidenhain, published by Kluwer Law International and Verlag C.H. Beck) the paragraph is translated as follows:
"The assets of the company remaining after fulfilment of all liabilities shall be distributed among the shareholders"

You can also find a similar translation ("full satisfaction of") in the offer document relating to the offer of Postbank to the shareholders of BHW Holding AG (see links)

http://www.bafin.de/datenbanken/wpueg_14/bhw.pdf
http://ir.postbank.de/postbank/en/service/Angebotsunterlage....
Selected response from:

Reinhard Wenzel
Local time: 20:05
Grading comment
thanks, I think I prefer 'satisfaction' or 'settlement'
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2fulfilment of all liabilitiesReinhard Wenzel
3discharge of liabilities
Bernhard Sulzer
3liability adjustment
CathyBermingham


Discussion entries: 1





  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
liability adjustment


Explanation:
see web ref.


    Reference: http://www.johnsoncontrols.com/annualreports/1999/pg32-42.ht...
CathyBermingham
Ireland
Local time: 19:05
Specializes in field
Native speaker of: English
PRO pts in category: 10
Notes to answerer
Asker: on reflection, 'Insolvency' is misleading: this is about any 'Berichtigung' of a liability, if that helps

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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
discharge of liabilities


Explanation:
discharge of liabilities

or

fulfillment of liabilities (and/or obligations)

Good Luck.
Bernhard


    Reference: http://www.hal-pc.org/~annes/texas_non_profit_corporation_ac...
    Reference: http://www.neiu.edu/~hchen/2012002/201_3.ppt
Bernhard Sulzer
United States
Local time: 14:05
Works in field
Native speaker of: Native in GermanGerman
PRO pts in category: 47
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
fulfilment of all liabilities


Explanation:
In the translation of the German Stock Corporation Act (authors: Hannes Schneider and Martin Heidenhain, published by Kluwer Law International and Verlag C.H. Beck) the paragraph is translated as follows:
"The assets of the company remaining after fulfilment of all liabilities shall be distributed among the shareholders"

You can also find a similar translation ("full satisfaction of") in the offer document relating to the offer of Postbank to the shareholders of BHW Holding AG (see links)

http://www.bafin.de/datenbanken/wpueg_14/bhw.pdf
http://ir.postbank.de/postbank/en/service/Angebotsunterlage....

Reinhard Wenzel
Local time: 20:05
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 36
Grading comment
thanks, I think I prefer 'satisfaction' or 'settlement'

Peer comments on this answer (and responses from the answerer)
agree  Julia Lipeles
1 hr

agree  Gert Sass (M.A.): Makes perfect sense to me in this context, and references seem most relevant/reliable. Just why is it called "Berichtigung" (which lets me associate "adjustment") instead of "Begleichung" or the like?
5 hrs
  -> This meaning was also new to me - seems to be old German. I found a link in which it is in a list of terms from land records of former West Prussia. http://www.cyberspace.org/~goertz/ger.html
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