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Auffangslösungen

English translation: rescue/recovery solutions


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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Auffanglösungen
English translation:rescue/recovery solutions
Entered by: Ian M-H
Options:
- Contribute to this entry
- Include in personal glossary

12:24 Jan 26, 2005
German to English translations [PRO]
Bus/Financial - Finance (general) / business rescue/restructuring
German term or phrase: Auffangslösungen
Context is a concise "Unternehmensporträt" for a company specialising in the restructuring of firms in "special situations" (insolvency etc.).

Auffangslösungen is a heading - is there an established term for this in English?
Ian M-H
United States
Local time: 18:51
rescue solutions [options]
Explanation:
See

http://www.adb.org/Documents/Reports/TA3890/default.asp

http://www.r3.org.uk/uploaded_documents/ACFqgytBI.pdf -

"It is a practical example where the profession can use its unique skills and opposition in the market and change its role towards being an objective facilitator of ***rescue solutions*** that bring together the mutual interests of all stakeholders in a failing firm."

--------------------------------------------------
Note added at 20 mins (2005-01-26 12:44:50 GMT)
--------------------------------------------------

http://archive.treasury.gov.uk/budget/1994/speech.html has \"rescue options\" and also \"rescue procedures/prospects/culture\" -

\"Insolvency reform

During the recent recession, businesses particularly small businesses, were too often being closed down by their creditors and jobs lost before ***rescue options*** had been properly explored.

Following consultation, my rt hon Friend, the President of the Board of Trade, will shortly issue a paper setting out the Government\'s main conclusions on company ***rescue procedures*** in future.

To give management more time to reorder their affairs, we will introduce a 28 day moratorium binding upon all parties. This will give companies a breathing space to assess ***rescue prospects*** and come to an arrangement with creditors.

We are also consulting further on a mechanism to help substitute equity for debt of firms in Administration or Receivership.

These measures will contribute further to the creation of a ***rescue culture***, discouraging wasteful liquidation of sound businesses.\"
Selected response from:

Steffen Walter
Germany
Local time: 00:51
Grading comment
Many thanks to Steffen and Alison (and to Kieran for additional input). Rescue and recovery both seem to be acceptable options for this, depending upon the precise context.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1rescue solutions [options]
Steffen Walter
3new company formations/solutionsKieran McCann
3Recovery solutions
Alison Riddell


Discussion entries: 3





  

Answers


3 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Auffangslösungen
Recovery solutions


Explanation:
might work, but without context it's a bit hard to tell. Is there any further information under the heading?



Alison Riddell
Local time: 00:51
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 239
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15 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
Auffangslösungen
rescue solutions [options]


Explanation:
See

http://www.adb.org/Documents/Reports/TA3890/default.asp

http://www.r3.org.uk/uploaded_documents/ACFqgytBI.pdf -

"It is a practical example where the profession can use its unique skills and opposition in the market and change its role towards being an objective facilitator of ***rescue solutions*** that bring together the mutual interests of all stakeholders in a failing firm."

--------------------------------------------------
Note added at 20 mins (2005-01-26 12:44:50 GMT)
--------------------------------------------------

http://archive.treasury.gov.uk/budget/1994/speech.html has \"rescue options\" and also \"rescue procedures/prospects/culture\" -

\"Insolvency reform

During the recent recession, businesses particularly small businesses, were too often being closed down by their creditors and jobs lost before ***rescue options*** had been properly explored.

Following consultation, my rt hon Friend, the President of the Board of Trade, will shortly issue a paper setting out the Government\'s main conclusions on company ***rescue procedures*** in future.

To give management more time to reorder their affairs, we will introduce a 28 day moratorium binding upon all parties. This will give companies a breathing space to assess ***rescue prospects*** and come to an arrangement with creditors.

We are also consulting further on a mechanism to help substitute equity for debt of firms in Administration or Receivership.

These measures will contribute further to the creation of a ***rescue culture***, discouraging wasteful liquidation of sound businesses.\"

Steffen Walter
Germany
Local time: 00:51
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 327
Grading comment
Many thanks to Steffen and Alison (and to Kieran for additional input). Rescue and recovery both seem to be acceptable options for this, depending upon the precise context.

Peer comments on this answer (and responses from the answerer)
agree  EMatt
41 mins
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33 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Auffangslösungen
new company formations/solutions


Explanation:
I think this is rather more specific than 'recovery solutions'. An 'Auffangsgesellschaft' is a new company formed in order to take on the assets/employees/business of the insolvent company without having to inherit liabilities/losses etc

this is common in UK/US situations too, but, again, maybe there is a snappier phrase


    Reference: http://www.zasterbox.de/bonitaet/Auffanggesellschaft-cms_134...
    Reference: http://www.unternehmerinfo.de/Lexikon/a/Lexikon_Auffanggesel...
Kieran McCann
Local time: 23:51
Specializes in field
Native speaker of: English
PRO pts in category: 305

Peer comments on this answer (and responses from the answerer)
neutral  Steffen Walter: except that the formation of a new co. is not necessarily part of each and every rescue solution / Auffang + Rettung seem to be identical here. I agree that an Auffanggesellschaft is a specific vehicle. Auffang on its own seems to be more general, though.
30 mins
  -> quite right, but I read 'Auffang' as referring to a specific procedure and not as a general term for 'rescue', or are 'Auffang' and 'Rettung' synonyms?/ Fair enough...
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Voters for reclassification
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PRO / non-PRO		Non-PRO (1): Sebastian Witte


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