substitution

English translation: substitution

02:06 Feb 21, 2018
French to English translations [PRO]
Law/Patents - Law (general) / assignment
French term or phrase: substitution
Struggling with this "Cession" contract (which I have as "assignment"), which describes the terms of the takeover of a company that has gone into liquidation.

"Par jugement en rectification d'erreur matérielle en date du XXXX 2017, le tribunal de commerce de Nanterre a rectifié l'erreur relative à la *substitution* autorisée par la tribunal sur le fondement de l'article L. 642-9 alinéa 3 du code de commerce".

Also, "se substituer" (+ COD) in:
"La société X *se substitue* pour l'acquisition des actifs de la société Y, une société détenue à 100%, la société Z." (I assume this is a typo, with "par" needed instead of the last comma).
"[le tribunal] a autorisé la société X à *se substituer* une société créée pour les besoins de la reprise, détenue à 100% par la société X."
This use of "se substituer" has thrown me, as I only recall seeing it and using it with "à". I expect this is legal usage.
Sorry that this is really three questions in one, but if I can crack one, I can do all three, I reckon.
Joshua Parker
Mexico
Local time: 06:37
English translation:substitution
Explanation:
Standard language. No need to re-write the author here.
---
[le tribunal] a autorisé la société X à *se substituer* une société créée pour les besoins de la reprise, détenue à 100% par la société X.
(the Court) authorized Company X to substitute [(in place of itself)] a company created for the purpose of the takeover [(in particular assumption of the liaibilities at issue)], owned 100% by Company X.


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Note added at 5 hrs (2018-02-21 07:36:38 GMT)
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For "takeover", it would also be suitable to use "acquisition".
Selected response from:

TechLawDC
United States
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3substitution
TechLawDC
3superseding
tanglsus
3 -2Takeover
Manoj Chauhan


  

Answers


3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -2
Takeover


Explanation:
When one company takes over another and clearly establishes itself as the new owner, the purchase is called an acquisition. From a legal point of view, the target company ceases to exist, the buyer absorbs the business and the buyer's stock continues to be traded while the target company’s stock does not.

In the pure sense of the term, a merger happens when two firms, often of about the same size, agree to go forward as a single new company rather than remain separately owned and operated. This kind of action is more precisely referred to as a "merger of equals." Both companies' stocks are surrendered and new company stock is issued in its place.

Manoj Chauhan
India
Local time: 19:07
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)
disagree  B D Finch: This completely misses the point of company X setting up another company [Z] to take over the assets of company Y.
9 hrs

disagree  Daryo: it's part of this story, sure, but that't NOT the term to translate!
1 day 5 hrs
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4 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
superseding


Explanation:
Company A superseded by company B

tanglsus
United States
Local time: 09:37
Works in field
Native speaker of: Native in ChineseChinese

Peer comments on this answer (and responses from the answerer)
neutral  Daryo: there might be some kind of similarity in etymology, but it's simply not that, not good in this specific case for sure.
1 day 4 hrs
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
substitution


Explanation:
Standard language. No need to re-write the author here.
---
[le tribunal] a autorisé la société X à *se substituer* une société créée pour les besoins de la reprise, détenue à 100% par la société X.
(the Court) authorized Company X to substitute [(in place of itself)] a company created for the purpose of the takeover [(in particular assumption of the liaibilities at issue)], owned 100% by Company X.


--------------------------------------------------
Note added at 5 hrs (2018-02-21 07:36:38 GMT)
--------------------------------------------------

For "takeover", it would also be suitable to use "acquisition".

TechLawDC
United States
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 49

Peer comments on this answer (and responses from the answerer)
agree  B D Finch
7 hrs

agree  AllegroTrans
10 hrs

agree  Daryo: simply
1 day 3 hrs
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