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Sentence - legal

English translation: Here´s my suggestion

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06:44 Jul 18, 2002
German to English translations [PRO]
Law/Patents / See above
German term or phrase: Sentence - legal
A company supplied goods to another company who is now insolvent. This agreement is to set up a pool of suppliers to better represent their interests in the insolvency proceedings.

Under the title "Verteilungsregelung":

"Die Poolmitglieder erhalten nach Veraeusserung des Poolvermoegens und Eingang der Gegenwerte auf ihre anerkannten, dem Grunde und der Hoehe nach unstreitigen poolfaehigen Ansprueche eine im Verhaeltnis ihrer als poolfaehig anerkannten Forderung zum Poolvermoegen fuer alle gleiche Poolquote."

I've translated this as:
"After the sale of pool assets and receipt of the equivalent of the claims that have been recognised as undisputed poolable, the pool members receive an equal pool share in relation to the recognised poolable claims on the pool assets."

All comments gratefully received! Thanks
Gillian Searl
United Kingdom
Local time: 11:49
English translation:Here´s my suggestion
Explanation:
After the sale of the pool assets and receipt of the proceeds, these are distributed to all pool members alike in proportion to the amount of their claims on the pool assets which have been accepted as qualifying for the pool and which are undisputed with regard to the basis and the amount.

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Note added at 2002-07-18 07:22:26 (GMT)
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I started out trying to do it phrase by phrase and found that it became unmanageable, even after I split it into two sentences. But by that time I felt I had understood exactly what the sentence says, and wrote this. It´s an interpretation rather than a phrase-by-phrase equivalent.

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Note added at 2002-07-18 07:25:46 (GMT)
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Note that it´s \"auf ihre ... Ansprüche\", with qualifications of the Ansprüchen, represented by my dots, being 1) anerkannten 2) dem Grunde und der Hoehe nach unstreitigen 3) poolfaehigen.
Selected response from:

Chris Rowson
Local time: 12:49
Grading comment
Thanks - I think yours was the most readable. And after all that I just want to jump in a nice, cool pool!
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +2Here´s my suggestionChris Rowson
3 +1sentencegangels
4Fairly accurate rendition...
Steffen Walter
4After the sale of the pool assets
Elisabeth Ghysels


  

Answers


27 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
After the sale of the pool assets


Explanation:
and receipt of the financial equivalent, the pool members receive a pool share for those poolable claims that have been recognised and that are undisputable as to their legal basis and magnitude; the pool share is - for all equally - calculated according to the relation of the claims recognised as (being) poolable to the (total of) pool assets.
Just a try.
Greetings,

Nikolaus




Elisabeth Ghysels
Local time: 12:49
PRO pts in pair: 971

Peer comments on this answer (and responses from the answerer)
neutral  xxxhartran: poolable? (my query to all who used it)
1 hr
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30 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Fairly accurate rendition...


Explanation:
...but see my insertions/changes between asterisks

A real legalese beauty, this sentence...

"After sale of pool assets and receipt of the equivalent of the claims that have been recognised as undisputed poolable, *both on their merits and in terms of amount*, pool members *shall* receive an equal pool share *corresponding with the proportion of their respective recognised poolable claim* to the *total of pool*(ed)* assets."

You could add *both on their merits and in terms of amount*, which renders "dem Grunde und der Höhe nach". "Sale" could be synonymously replaced with "disposal".



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Note added at 2002-07-18 07:40:17 (GMT)
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should better read \"...undisputed *and* poolable...\"

Steffen Walter
Germany
Local time: 12:49
Native speaker of: Native in GermanGerman
PRO pts in pair: 11870
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35 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
Here´s my suggestion


Explanation:
After the sale of the pool assets and receipt of the proceeds, these are distributed to all pool members alike in proportion to the amount of their claims on the pool assets which have been accepted as qualifying for the pool and which are undisputed with regard to the basis and the amount.

--------------------------------------------------
Note added at 2002-07-18 07:22:26 (GMT)
--------------------------------------------------

I started out trying to do it phrase by phrase and found that it became unmanageable, even after I split it into two sentences. But by that time I felt I had understood exactly what the sentence says, and wrote this. It´s an interpretation rather than a phrase-by-phrase equivalent.

--------------------------------------------------
Note added at 2002-07-18 07:25:46 (GMT)
--------------------------------------------------

Note that it´s \"auf ihre ... Ansprüche\", with qualifications of the Ansprüchen, represented by my dots, being 1) anerkannten 2) dem Grunde und der Hoehe nach unstreitigen 3) poolfaehigen.

Chris Rowson
Local time: 12:49
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 768
Grading comment
Thanks - I think yours was the most readable. And after all that I just want to jump in a nice, cool pool!

Peer comments on this answer (and responses from the answerer)
agree  Rod Darby: Chris has spotted the subtle point that there is an unwritten comma between 'unstreitigen' and 'poolfaehigen'
26 mins

agree  xxxhartran
35 mins
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9 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
sentence


Explanation:
Following sale of the pooled assets and receipt of proceeds thereof, members of the pool will receive an equal, prorated share of their verified claims – indisputable in amount and legitimacy– against the pool to the extent they are applicable to the pool's assets.

In the US, it's called a creditors' committee

gangels
Local time: 04:49
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in pair: 5465

Peer comments on this answer (and responses from the answerer)
agree  stefana
3 hrs
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