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  3. Law: Contract(s)

cesación de pagos

English translation: default on payments

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:cesación de pagos
English translation:default on payments
Entered by: Claudia Luque Bedregal

20:18 Apr 22, 2008
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s) / contrato de prestación de servicios de consultoría en proyectos mineros
Spanish term or phrase: cesación de pagos
Cualquiera de las Partes puede terminar el presente Contrato con anticipación, si la otra Parte se encuentra en alguna de las siguientes situaciones:

- reconozca por escrito su imposibilidad de pagar sus deudas en forma general o ingrese a una situación de cesación de pagos;
- ....;
- ....

Muchas gracias!
Claudia Luque Bedregal
Italy
Local time: 00:30
default
Explanation:
sorry but this is the correct term ...

--------------------------------------------------
Note added at 4 hrs (2008-04-23 00:41:08 GMT)
--------------------------------------------------

La noticia de una inminente cesación de pago (default) conmocionó a Wall Street. Ante esta amenaza al sistema bancario de los Estados Unidos, Washington se ...
www.popline.org/docs/1654/296619.html - 4k - Cached - Similar pages


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Note added at 4 hrs (2008-04-23 00:42:09 GMT)
--------------------------------------------------

be in defaullt

--------------------------------------------------
Note added at 4 hrs (2008-04-23 00:59:39 GMT)
--------------------------------------------------

came in late on this one but I am sure this means "default on"
Selected response from:

David Hollywood
Local time: 19:30
Grading comment
Thanks a lot David!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +7suspension / cessation of payments
Juan González Pérez
5 +4default
David Hollywood
4 +1Suspension of payments
Gad Kohenov
3(approx. pers. & corp.) voluntary receivership
Adrian MM. (X)


  

Answers


9 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +7
suspension / cessation of payments


Explanation:
La segunda sería según el Diccionario IATE.

Saludos!
Juan

Juan González Pérez
Spain
Local time: 00:30
Native speaker of: Native in SpanishSpanish

Peer comments on this answer (and responses from the answerer)
agree  R. Alex Jenkins
12 mins
  -> Thanks Richard!
agree  Edward Tully: spot on!
45 mins
  -> Thanks Edward!
agree  AllegroTrans: yes, and possibly follow this with a short explanation in brackets, e.g. "a form of insolvency scheme"
2 hrs
  -> Thanks!
agree  Victoria Porter-Burns:
3 hrs
  -> Thanks!
agree  jude dabo
3 hrs
  -> Thanks!
agree  Nelida Kreer: Cessation of payments es lo primero que me vino a la mente.
3 hrs
  -> Thanks!
agree  MikeGarcia: Suspension of payments....and Pat Mazzucco's Dictionary also agrees!!! This is a typical LA legal term, which is the previous step to judiciary insolvency/bankruptcy procedings.
12 hrs
  -> Thanks!
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17 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
Suspension of payments


Explanation:
Translation cesación in Spanish-English dictionary
cesación del fuego · cesante · cesantear. cesación sf cessation, suspension ♦
cesación del fuego ceasefire ♦ cesación de pagos suspension of payments

Gad Kohenov
Israel
Local time: 01:30
Specializes in field
Native speaker of: Native in FrenchFrench, Native in HebrewHebrew
PRO pts in category: 83

Peer comments on this answer (and responses from the answerer)
agree  MikeGarcia: Also correct...
12 hrs
  -> !milgracias!
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
(approx. pers. & corp.) voluntary receivership


Explanation:
Cessation and suspension of payments are not UK/US insolvency schemes. The Spanish & Lat. Am. forms are often used as an un-Christian way to defraud creditors and employees out of their money. Some Spanish lawyers have even changed careers as a result.



Example sentence(s):
  • Free Online Library: Booker T. Washington Insurance insolvent: historic firm enters voluntary receivership. by "Black Enterprise"; Business Ethnic, ...

    Reference: http://www.thefreelibrary.com/Booker+T.+Washington+Insurance...
Adrian MM. (X)
Local time: 00:30
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 547

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: My understanding is that under this regime, in many S. American countries, a receiver is not appointed, so "receivership" seems inappropriate here
47 mins
  -> Fair enough. But the immediate impact in the UK of a vol. receivership or liquidation is to suspend trading and payments, plus dismissal of all staff cf. Laker Airways 1978.
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4 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +4
default


Explanation:
sorry but this is the correct term ...

--------------------------------------------------
Note added at 4 hrs (2008-04-23 00:41:08 GMT)
--------------------------------------------------

La noticia de una inminente cesación de pago (default) conmocionó a Wall Street. Ante esta amenaza al sistema bancario de los Estados Unidos, Washington se ...
www.popline.org/docs/1654/296619.html - 4k - Cached - Similar pages


--------------------------------------------------
Note added at 4 hrs (2008-04-23 00:42:09 GMT)
--------------------------------------------------

be in defaullt

--------------------------------------------------
Note added at 4 hrs (2008-04-23 00:59:39 GMT)
--------------------------------------------------

came in late on this one but I am sure this means "default on"

David Hollywood
Local time: 19:30
Native speaker of: English
PRO pts in category: 700
Grading comment
Thanks a lot David!

Peer comments on this answer (and responses from the answerer)
agree  eloso (X): Absolutely!
2 hrs
agree  María Angélica Fernández: You're right, and here in Argentina we know exactly what it means...
2 hrs
agree  P Forgas
3 hrs
agree  MikeGarcia: Agreed, David, but LEGALLY it's the previous step to the formal "default" declaration. if we read the context supplied by Claudia, the contract as such. Even though in practice both terms are assimilated....
8 hrs
neutral  AllegroTrans: misleading imo --- you can "default" but this is not a step in insolvency, whereas cesación de pagos is a specific process
18 hrs
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