English translation: right of avoidance or right of rescission
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Explanation: Formally challenge or sue. Not "appeal" as this implies review of judicial decisions whereas the word "Anfechtung" is saved for challenging executive actions. In a general sense, "challenge", unless context indicates actual authorization of a right to go to court, "to sue." But, then, that is in Germany. Use challenge and stay safe, would say.
Explanation: And your second useage could very well be translated that way.
However, there is not enough context here for us to decide whether to translate your first useage as "right of appeal" or "right of avoidance" or "right of rescission."
All three of these can be correct translations depending upon your context.
The successful avoidance of a transaction renders it void from the beginning.
Because you are dealing with bankruptcy the right of avoidance or of rescission could be correct for you.
Let your context be your guide.
Dr. Fred Thomson United States Local time: 00:15 Specializes in field Native speaker of: English PRO pts in category: 608