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förhandling om offentligt ackord

English translation: court-supervised Plan of Arrangement

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Swedish term or phrase:förhandling om offentligt ackord
English translation:court-supervised Plan of Arrangement
Entered by: Jonathan Widell
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00:43 Jul 8, 2007
Swedish to English translations [PRO]
Law/Patents - Law (general)
Swedish term or phrase: förhandling om offentligt ackord
borgenären åberopar fordringen gentemot gäldenären i skiljeförfarande, konfursförfarande eller förhandling om offentligt ackord
Jonathan Widell
Canada
Local time: 03:55
(Can.) court-supervised Plan of Arrangement
Explanation:
Thanks to Barry T. for quoting the previous ProZ. answer to the Danish question. Indeed, it is compulsory as against voluntary and also binding on minority dissenters.

My only doubts are 1. whether the asker wants a Canadian-specific answer. As in many other countries, the law on insolvency has been extensively reformed in Canada and falls somewhere between the US and the UK and 2. whether this is a private indvidual (UK = deed of arrangement) or corporate process (UK = scheme of arrangement).
Selected response from:

xxxAdrian MM.
Local time: 09:55
Grading comment
Thank you!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1compulsory composition proceedingsxxxE2efour
5 -1negotiation of a public settlement
Transcrit
3(Can.) court-supervised Plan of ArrangementxxxAdrian MM.


  

Answers


36 mins   confidence: Answerer confidence 5/5 peer agreement (net): -1
negotiation of a public settlement


Explanation:
dich entry

Transcrit
Local time: 09:55
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 33

Peer comments on this answer (and responses from the answerer)
disagree  xxxE2efour: A public settlement (of what) has nothing to do with debts. Added: the legal term for ackord here is composition or arrangement. You can use a non-legal term if you wish, but settlement by itself covers too many things.
7 hrs
  -> Oh, so nobody ever settled there debts?
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7 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
compulsory composition proceedings


Explanation:
See previous answer (Danish) http://eng.proz.com/kudoz/720222

A compulsory scheme of composition (offengligt ackord or tvångsackord) is when a court approves an arrangement for the repayment of debt to creditors.

Vid konkurs och företagsrekonstruktion kan, förutom en frivillig uppgörelse, även förekomma en mera formbunden ackordsförhandling inför rätten, eventuellt med inslag av tvång, ett s k. offentligt ackord (även benämnt tvångsackord).


    Reference: http://www.skatteverket.se/rattsinformation/skrivelser/2004/...
xxxE2efour
United Kingdom
Local time: 08:55
Native speaker of: Native in EnglishEnglish
PRO pts in category: 42

Peer comments on this answer (and responses from the answerer)
agree  Charlesp
10 hrs
  -> Thank you
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21 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
(Can.) court-supervised Plan of Arrangement


Explanation:
Thanks to Barry T. for quoting the previous ProZ. answer to the Danish question. Indeed, it is compulsory as against voluntary and also binding on minority dissenters.

My only doubts are 1. whether the asker wants a Canadian-specific answer. As in many other countries, the law on insolvency has been extensively reformed in Canada and falls somewhere between the US and the UK and 2. whether this is a private indvidual (UK = deed of arrangement) or corporate process (UK = scheme of arrangement).

Example sentence(s):
  • Under the transaction, which will be effected as a court-supervised Plan of Arrangement, Systech has been valued in the range of Cdn.$29.5 million to ...

    Reference: http://www.newswire.ca/en/releases/archive/September2005/26/...
xxxAdrian MM.
Local time: 09:55
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 266
Grading comment
Thank you!
Notes to answerer
Asker: 1. Yes, Canadian-specific 2. The term is used in Preskriptionslag 5 § 3.

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