Spanish translation: si se designa a un receptor debido a/a causa de la insolvencia de la otra parte
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15:33 Jan 19, 2008
English to Spanish translations [PRO] Law: Contract(s)
English term or phrase:appointed on account of
A party shall be entitled to terminate this Contract by written notice, a) if any proceeding is instituted against the other party seeking to adjudicate such party as bankrupt or insolvent, or if the other party makes a general assignment for the benefit of its creditors, or *****if a receiver is appointed on account of the insolvency of the other party****, and, in the case of any such proceeding instituted against the other party (but not by the other party itself), if such proceeding is not dismissed within forty-five (45) days of such filing, or b) if the other party is insolvent or itself files a petition seeking to take advantage of any law relating to bankruptcy, insolvency, winding up or composition or readjustment of debts.