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Insolvenz et al.

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19:23 Nov 26, 2009

This question was closed without grading. Reason: Errant question

German to English translations [PRO]
Bus/Financial - Finance (general)

German term or phrase: Insolvenz et al.

Is there a preferred term for Insolvenz, and does it make a difference in (American) English whether one uses the term insolvency or bankruptcy? I feel as if bankruptcy is the more commonly used term in the US but would prefer insolvency as closer to the original. Are they 100% interchangeable?

I have been using the following:

Insolvenz = insolvency

Insolvenzverfahren = insolvency proceedings

Insolvenzantrag = insolvency petition

Stellung des Insolvenzantrags über das Vermögen der Schuldnerin = filing for insolvency protection for the assets of the Debtor

Insolvenzantragstellung = filing for insolvency

Insolvenzgutachten = insolvency report

Anmeldung des vorläufigen Insolvenzverfahrens = filing for preliminary insolvency proceedings

Vorinsolvenzlich = pre-insolvency

Thanks for any input!

Erik Werner

Summary of reference entries provided

Insolvency and bankruptcy are not quite synonymous.

Derek Gill Franßen

Discussion entries: 2

Reference comments

3 hrs peer agreement (net): +2

Reference: Insolvency and bankruptcy are not quite synonymous.

Reference information:
Although "insolvency" and "bankruptcy" are often used synonymously, they are do not mean the same thing:

Insolvency is "the condition of having more debts (liabilities) than total assets which might be available to pay them, even if the assets were mortgaged or sold" (see http://legal-dictionary.thefreedictionary.com/insolvency and http://www.askoxford.com/concise_oed/insolvent?view=uk for the UK).

Bankruptcy is "a Federal system of statutes and courts which permits persons and businesses which are insolvent (debtors) or (in some cases) face potential insolvency, to place his/her/its financial affairs under the control of the bankruptcy court." (see http://legal-dictionary.thefreedictionary.com/bankruptcy and http://www.askoxford.com/concise_oed/bankrupt?view=uk for the UK).

To put it shortly: Insolvency precedes bankruptcy.

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Note added at 3 hrs (2009-11-26 23:01:53 GMT)
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I guess I should say, "Insolvency (usually) precedes bankruptcy."

Derek Gill Franßen
Germany
Specializes in field
Native speaker of: English
PRO pts in category: 119

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Insolvenz et al.

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