concordato preventivo
English translation: agreement among creditors/ closure agreement of creditors
| 00:59 Sep 3, 2008 |
| Italian to English translations [PRO] Law/Patents - Law (general) | |||||||
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|  Selected response from: Kilian Seavers Italy Local time: 03:12 | ||||||
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| 5 +1 | agreement among creditors/ closure agreement of creditors |
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| 4 | voluntary arrangement (with creditors) |
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| 4 -1 | voluntary bankruptcy |
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| Discussion entries: 1 | |
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Answers
3 mins confidence: 
peer agreement (net): +1
peer agreement (net): +1agreement among creditors/ closure agreement of creditors Explanation: I've used this in the past. |
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1520 days confidence: 
voluntary arrangement (with creditors) Explanation: http://en.wikipedia.org/wiki/Individual_voluntary_arrangemen... |
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3 hrs confidence: peer agreement (net): -1
peer agreement (net): -1voluntary bankruptcy Explanation: The closest equivalent is when a debtor files a voluntary bankrupcy petition (preventivo - meaning a bankrupt company files before its creditors file the petition) Bankruptcy is a legally declared inability or impairment of ability of an individual or organizations to pay their creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed. In the majority of cases, however, bankruptcy is initiated by the debtor (a ****"voluntary bankruptcy"**** that is filed by the bankrupt individual or organization). L’impresa in crisi presenta ai propri creditori un piano contenente una proposta finalizzata al risanamento dell’impresa e al soddisfacimento dei creditori. Il contenuto del piano, e quindi le concrete modalità operative di salvataggio, è lasciato alla libera determinazione dell’impresa, la quale pertanto può discrezionalmente trovare la soluzione migliore. La competenza a ricevere la domanda spetta inderogabilmente al Tribunale del luogo in cui si trova la sede principale dell’impresa. Il trasferimento della sede eventualmente intervenuto nell'anno antecedente al deposito del ricorso non rileva ai fini della individuazione della competenza. -------------------------------------------------- Note added at 1520 days (2012-11-01 12:27:31 GMT) Post-grading -------------------------------------------------- It is a bit academic Simon. If they weren't bankrupt, they wouldn't be trying to come to an arrangement with their creditors, so that they can get out of the bankrupt situation they are in. However, at a distance of four years, I personally find my explanations and references very useful. Clearly in your source text "arrangement" will work much better. "Insolvency" and "liquidation" are useful words here. Reference: http://it.wikipedia.org/wiki/Concordato_preventivo Reference: http://en.wikipedia.org/wiki/Bankruptcy |
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