consulter la masse

English translation: consult the general body

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:consulter la masse
English translation:consult the general body
Entered by: Adrian MM.

14:22 Jul 9, 2020
French to English translations [PRO]
Bus/Financial - Investment / Securities
French term or phrase: consulter la masse
Complicated shareholders' agreement. The investors appear mainly to be State and regional authorities.

"Autorisations particulières
La Société pourra modifier sa forme et son objet, sans qu’il soit nécessaire de consulter la masse (soit le représentant de l’Obligataire ou le cas échéant des obligataires).
 
De même, sous réserve de prendre les dispositions nécessaires au maintien des droits des obligataires dans les conditions définies à l’article L. 228-99 du code de commerce et rappelées à Article 12 ci-avant, la Société pourra, sans qu’il soit nécessaire de consulter la masse :
-        modifier les règles de répartition de ses bénéfices ;
-        amortir son capital social ; et
-        créer des actions de préférence."

My cowardly instinct is to cop out on this and put "without any requirement for a general consultation". I considered "the shareholders" ... but an obligataire is not a shareholder so by rights it might have to be "the shareholders and bondholders" ... or maybe we might say "stakeholders" (in a strictly financial rather than socially enlightened sense). But, above all, I find no evidence of this expression being in common usage in this context.
Mpoma
United Kingdom
Local time: 14:14
consult the general body or pool of /such debenture-/ holders
Explanation:
... or receivership pool if the debentures secure a floating-type charge that crsytallises into a fixed charge,

General to avoid any topical hint of 'mass murder' of bodies in the plural. I have included pool to pre-empt and anticipate copycats of my answers.

We also need to wary of any Swiss-French echoes of the German word of 'Masse' meaning the pool of assets avalable for distribution on a receivership or winding-up cf. bomasse in Scan lingos and often boliing down to the Reciever/s/ or Committee of Inspection.
Selected response from:

Adrian MM.
United Kingdom
Grading comment
Thanks... I put "body of bondholders" FWIW
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2to consult the mass of bondholders
Cathy Rosamond
4consult the body of holders
Michael Roberts
4consult the general body or pool of /such debenture-/ holders
Adrian MM.
3 -1consult the body/of stockholders
Juan Arturo Blackmore Zerón
Summary of reference entries provided
mutual funds as bondholders
Johannes Gleim

Discussion entries: 3





  

Answers


44 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
to consult the mass of bondholders


Explanation:
"No evidence is available to show bondholders were consulted either by mass meeting or letter or otherwise , about the acceptability of these members ."

https://books.google.fr/books?id=ZCrVAAAAMAAJ&pg=RA1-PA10&lp...

"The current system: the Bondholders' masses. In order to protect their common interests, bondholders are grouped into a so-called "masse" .."

https://www.whitecase.com/publications/alert/bond-issues

Cathy Rosamond
French Guiana
Native speaker of: Native in FrenchFrench
Notes to answerer
Asker: Thanks. That second link is v useful.


Peer comments on this answer (and responses from the answerer)
agree  Johannes Gleim: funds may constitute a critical mass of bonds.
6 hrs
  -> Thanks Johannes.

neutral  Daryo: second reference is spot-on // not sure if "mass" would work - "body of ..." is probably better
6 hrs

agree  Chris Pr: A lot more fluent than the synonym version....
13 hrs
  -> Thanks Chris.

neutral  Yvonne Gallagher: not "mass" in English
4 days

neutral  Suzie Withers: Use of "mass" is not correct in English
4 days
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
consult the general body or pool of /such debenture-/ holders


Explanation:
... or receivership pool if the debentures secure a floating-type charge that crsytallises into a fixed charge,

General to avoid any topical hint of 'mass murder' of bodies in the plural. I have included pool to pre-empt and anticipate copycats of my answers.

We also need to wary of any Swiss-French echoes of the German word of 'Masse' meaning the pool of assets avalable for distribution on a receivership or winding-up cf. bomasse in Scan lingos and often boliing down to the Reciever/s/ or Committee of Inspection.


    Reference: http://www.proz.com/kudoz/french-to-english/bus-financial/56...
Adrian MM.
United Kingdom
Native speaker of: Native in EnglishEnglish
PRO pts in category: 10
Grading comment
Thanks... I put "body of bondholders" FWIW

Peer comments on this answer (and responses from the answerer)
neutral  Daryo: there is no "receivership" nor any "floating charge" in this ST + "my answer" same as a previous Proz question?
4 hrs
  -> I was actually gping tp post the weblink for ref. only, but - unlike you - had been niggled by doubts of a Swiss-German insolvency connection.
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -1
consult the body/of stockholders


Explanation:
https://books.google.com.mx/books?id=sHtZAAAAIAAJ&pg=PA1642&...

Juan Arturo Blackmore Zerón
Mexico
Local time: 08:14
Works in field
Native speaker of: Spanish

Peer comments on this answer (and responses from the answerer)
disagree  Daryo: "stockholders" are not "bondholders"
4 hrs
Login to enter a peer comment (or grade)

21 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
consult the body of holders


Explanation:
The text does not mention what the holders are holding, although shares would seem the most probable word

Example sentence(s):
  • Subject to the powers expressly reserved [..] for the representative of the body of Holders, the Board of directors will be empowered to take any measure relating to the protection and adjustment of the rights of Holders as provided for by the law and reg

    https://www.sec.gov/Archives/edgar/data/1383395/000119312514122528/d699038dex48.htm
Michael Roberts
Morocco
Local time: 14:14
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in FrenchFrench
Login to enter a peer comment (or grade)




Reference comments


7 hrs
Reference: mutual funds as bondholders

Reference information:
A mutual fund is an open-end professionally managed investment fund[1] that pools money from many investors to purchase securities. These investors may be retail or institutional in nature. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital') and open-ended investment company (OEIC) in the UK.

Mutual funds have advantages and disadvantages compared to direct investing in individual securities. The advantages of mutual funds include economies of scale, diversification, liquidity, and professional management. However, these come with mutual fund fees and expenses.

Primary structures of mutual funds are open-end funds, unit investment trusts, closed-end funds and exchange-traded funds (ETFs).

Mutual funds are often classified by their principal investments as money market funds, bond or fixed income funds, stock or equity funds, hybrid funds, or other. Funds may also be categorized as index funds, which are passively managed funds that match the performance of an index, or actively managed funds. Hedge funds are not mutual funds as hedge funds cannot be sold to the general public.
https://en.m.wikipedia.org/wiki/Mutual_fund

In finance, a bond is an instrument of indebtedness of the bond issuer to the holders. The most common types of bonds include municipal bonds and corporate bonds. Bonds can be in mutual funds or can be in private investing where a person would give a loan to a company or the government.

The bond is a debt security, under which the issuer owes the holders a debt and (depending on the terms of the bond) is obliged to pay them interest (the coupon) or to repay the principal at a later date, termed the maturity date.[1] Interest is usually payable at fixed intervals (semiannual, annual, sometimes monthly). Very often the bond is negotiable, that is, the ownership of the instrument can be transferred in the secondary market. This means that once the transfer agents at the bank medallion stamp the bond, it is highly liquid on the secondary market.[2]
:
Bonds are bought and traded mostly by institutions like central banks, sovereign wealth funds, pension funds, insurance companies, hedge funds, and banks. Insurance companies and pension funds have liabilities which essentially include fixed amounts payable on predetermined dates. They buy the bonds to match their liabilities, and may be compelled by law to do this. Most individuals who want to own bonds do so through bond funds. Still, in the U.S., nearly 10% of all bonds outstanding are held directly by households.
https://en.m.wikipedia.org/wiki/Bond_(finance)

My approach:

Normally a individual bondholder has no much influence on the company, esp. No voting rights. But a investment fund or mutual fund may have enough influence to be consulted at least, independend of being written or not.

Johannes Gleim
Native speaker of: Native in GermanGerman
PRO pts in category: 1
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.


See also:

Your current localization setting

English

Select a language

Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search