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encontrarse en cesacion de pagos

English translation: to be insolvent / to be unable to meet one\'s obligations when due / to pay one\'sdebts upon maturity / to fall into suspension of payments

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:encontrarse en cesacion de pagos
English translation:to be insolvent / to be unable to meet one\'s obligations when due / to pay one\'sdebts upon maturity / to fall into suspension of payments
Entered by: Brenda Joseph
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20:49 Aug 4, 2006
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s)
Spanish term or phrase: encontrarse en cesacion de pagos
XX estuviera imposibilitada de pagar sus deudas a sus vencimientos o deviniera insolvente o se encontrara en cesación de pagos.

My draft translation:
XX cannot pay its debts when due or becomes insolvent or...?
Brenda Joseph
Local time: 19:20
to be insolvent / to be unable to meet one's obligations when due / to pay one'sdebts upon maturity/
Explanation:
to suspend payments of debts -
to be unable to pay one's debts as they become due
to be unable to meet one's obligations/liabilities upon maturity
to fall into suspension of payments


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Note added at 28 mins (2006-08-04 21:18:13 GMT)
--------------------------------------------------

to be in default "of" payment
http://www.tkmet.com/tkmet/en/TKMET-agb-vk.pdf
Selected response from:

Pat Mazzucco
Argentina
Local time: 19:20
Grading comment
Gracias Patricia!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +3to be insolvent / to be unable to meet one's obligations when due / to pay one'sdebts upon maturity/
Pat Mazzucco
4 +1is found in suspension of payments
Parrot
4 +1or if XX is in default on payment
Luis Medina
4find itself/themselves (fem. = corp.)/ in voluntary receivershipxxxAdrian MM.


  

Answers


17 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
or if XX is in default on payment


Explanation:
88204 -- Johnson County Auto Credit, Inc. v. Green -- Buchele ...
When a consumer is simply in default on payment, the UCCC requires notices be given and then a consumer is given a period of time to cure the default prior ...
www.kscourts.org/kscases/ctapp/2003/20030207/88204.htm - 21k - Cached - Similar pages

Seidensticker | AGBs/Lieferbedingungen
Should the purchaser be in default on payment for an earlier delivery, the seller shall be entitled to discontinue further deliveries and declare the ...
www.seidensticker.com/englisch/agb/ - 15k - Cached - Similar pages

Norid: Background for the new billing model
In the case of default on payment, the domain is deleted: C1: Norid bills another registered billing contact. This is not governed by any explicit contract, ...
www.norid.no/regelverk/forslag/2004-10-01/fakturamodell-bak... - 13k - Cached - Similar pages

Star Elektronik - Terms & Conditions Sales
Should the customer act in violation of the contract, especially default on payment, we have the right to repossess the goods. ...
www.starelektronik.de/termssales.html - 15k - Cached - Similar pages

Common Ground Common Sense
Indian Bureau to Default on Payment to Navajo by Brendan Coyne Dec 19 - More than three months after first warning the Navajo Nation of a potential budget ...
www.commongroundcommonsense.org/forums/index.php?showtopic=... - 57k - Cached - Similar pages

Costa Rica Daily Online News Magazine
IMF Talks Continue Despite Default on Payment Marcela Valente BUENOS AIRES, (IPS) - Argentina failed to meet a 2.9-billion-dollar payment to the IMF that ...
insidecostarica.com/specialreports/argentina_IMF_Talks_Continue.htm - 43k - Cached - Similar pages

EMB - Replies to Written Questions
Regarding employers who default on payment of wages to their employees, will the Government inform this Council:. of the total number of such cases (other ...
www.emb.gov.hk/index.aspx?nodeID=136&langno=1&UID=10549 - 124k - Cached - Similar pages

DATA MODUL
The customer, on the other hand, shall have the right to prove to DATA MODUL that it suffered a lesser level of damage as a result of the default on payment ...
www.data-modul.com/eu/meta/agb.html - 50k - Cached - Similar pages

[PDF] Guide to Best's Credit Ratings 031606
File Format: PDF/Adobe Acrobat
In default on payment of principal, interest or other terms and conditions. The rating also is utilized. when a bankruptcy petition, or similar action, ...
www.ambest.com/debt/debtguide.pdf - Similar pages

Agricultural Export Transportation Handbook - Payment
On the other hand, the seller needs assurances that the buyer won't default on payment once it has received the goods. Companies need to develop an ...
www.ams.usda.gov/TMD/export/payment.htm - 40k - Cached - Similar pages


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Note added at 19 mins (2006-08-04 21:08:30 GMT)
--------------------------------------------------

Inglés: default on payment
Francés: défaut de paiement
Francés: cessation de paiements
Alemán: Zahlungsverzug
Portugués: inadimplência
Portugués: inadimplemento
Español: incumplimiento de pago
Español: mora
Español: incumplimiento
Español: cesación de pagos
Español: impago
Español: falta de pago

--------------------------------------------------
Note added at 19 mins (2006-08-04 21:09:17 GMT)
--------------------------------------------------

Lo anterior son términos obtenidos del glosario del FMI

Luis Medina
Mexico
Local time: 17:20
Native speaker of: Spanish
PRO pts in category: 46

Peer comments on this answer (and responses from the answerer)
agree  Alfredo Fernández Martínez: yup, in the news... 'XX is defaulting payments'...
38 mins
Login to enter a peer comment (or grade)

23 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
is found in suspension of payments


Explanation:
In Spain they say "suspensión de pagos" but the situation is that described below:


    Reference: http://www.zamudio.bioetica.org/apuntes1.htm
Parrot
Spain
Local time: 00:20
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 124

Peer comments on this answer (and responses from the answerer)
agree  claudia bagnardi
2 hrs
Login to enter a peer comment (or grade)

26 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
to be insolvent / to be unable to meet one's obligations when due / to pay one'sdebts upon maturity/


Explanation:
to suspend payments of debts -
to be unable to pay one's debts as they become due
to be unable to meet one's obligations/liabilities upon maturity
to fall into suspension of payments


--------------------------------------------------
Note added at 28 mins (2006-08-04 21:18:13 GMT)
--------------------------------------------------

to be in default "of" payment
http://www.tkmet.com/tkmet/en/TKMET-agb-vk.pdf

Pat Mazzucco
Argentina
Local time: 19:20
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 26
Grading comment
Gracias Patricia!

Peer comments on this answer (and responses from the answerer)
agree  swisstell
1 min
  -> thanks

agree  claudia bagnardi
2 hrs

agree  MikeGarcia: Hey, Patty LaBelle!!!!
16 hrs
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18 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
find itself/themselves (fem. = corp.)/ in voluntary receivership


Explanation:
One 2000 ProZ answer in the ref. picks up on 'temporary receivership'.

The whole point of the suspension or cessation, used interchangeably, is that is voluntary and precipitated by the debtor - not compulsory and brought on by the creditors.

It is often used in Spain as an 'engine of fraud' to trick creditors and employees out of their money. Some Spanish lawyers have resigned in protest.




Example sentence(s):
  • challenged the motion for voluntary receivership as recommended by the external advisor. and the bank’s receivers. He stated his opinion that, ...

    Reference: http://www.proz.com/kudoz/9326
    Reference: http://www.patent.gov.uk/tm//legal/decisions/2006/o00606.pdf
xxxAdrian MM.
Local time: 00:20
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 547
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