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plan de redressement par voie de cession

English translation: recovery plan by (the) transfer

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11:21 Sep 5, 2001
French to English translations [PRO]
Law/Patents
French term or phrase: plan de redressement par voie de cession
XYZ accepte de contribuer au financement du plan de redressement par voie de cession proposé par le Repreneur...

Thanks
RG
Rgaspari
United States
Local time: 02:52
English translation:recovery plan by (the) transfer
Explanation:
"XYZ agree to contribute to financing the recovery plan by the transfer suggested by the (would-be) Purchaser/New Owner... "

"transfer" works as it can mean sale, asignment, any change of hands of property, and as we don't have the full picture.

A company which has a “plan de redressement” has the receivers in, following an application to the court by one or a number of its creditors. The whole idea behind receivership is often to avoid liquidation. It's often just putting back the fateful day. (In times when an economic cycle is on a downward trend, there is a tendency to try and save companies where possible. Keeps people employed, money circulating and give the economy a chance – if caught early enough. If things can’t be straightened out, then the company may have to call it a day and the liquidator may be called in to pick up the pieces. )
Back to receivers. A receiver realizing the assets of a company in receivership under his responsibility will draw up a “plan de redressement”, or “recovery plan”

EUROPE :
http://europa.eu.int/eur-lex/fr/lif/dat/2001/fr_301D0089.htm...

4) Dans un premier temps, la solution des problèmes du CFF envisagée par les autorités françaises était fondée sur la mise en oeuvre d'un plan de redressement - prévoyant le recentrage de l'activité du groupe sur le crédit immobilier à moyen et long termes et sa réorganisation - et son adossement à un partenaire.

http://europa.eu.int/eur-lex/en/lif/dat/2001/en_301D0089.htm...

4) The solution to CFF's problems initially envisaged by the French authorities was based on implementation of a recovery plan, whereby the group was to reorganise and refocus its activities on medium- and long-term property lending, and on a link-up with a partner.


US :

http://www.s-t.com/daily/04-00/04-28-00/a03sr025.htm

Harvard Pilgrim recovery plan presented to high court
By Martin Finucane, Associated Press writer

BOSTON -- Consumer activists told a judge on the state's highest court yesterday that he should have more information in his hands before he ends state receivership of Harvard Pilgrim Health Care, the financially ailing HMO.

Laurie Martinelli, an attorney for Health Care for All, told Supreme Judicial Court Justice Francis Spina, who was considering the state's proposal to end receivership, that "disclosure in this case is inadequate for the court to rule."


Selected response from:

Nikki Scott-Despaigne
Local time: 11:52
Grading comment
Thanks a lot for the helpful explanation.

RG

4 KudoZ points were awarded for this answer

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Summary of answers provided
na +1a bail-out plan by selling the company as proposed by...
Francesco D'Alessandro
naacquisition arrangement
Peter Freckleton
narecovery plan by means of cession/assignation/transfer
Parrot
narecovery plan by (the) transfer
Nikki Scott-Despaigne


  

Answers


11 mins peer agreement (net): +1
a bail-out plan by selling the company as proposed by...


Explanation:
http://www.zdnet.com/eweek/news/0821/hayes1.html

"Hayes Trying to Bail Out of Boca Merger
By Evanthia V. Brickates

Modem maker Hayes Microcomputer Products Inc. chairman Dennis Hayes has been shopping around quietly for minority share investors in order to circumvent his letter of intent to merge with Boca Research Inc. of Boca Raton, Fla., sources said.

One source close to the negotiations say that Hayes has been reaching out to potential investors for his company through an investment bank. The source said that Hayes has become fearful that if the merger with Boca were to go through, Boca would proceed to dismember the communications company that he founded in 1977.

Hayes Microcomputers, which set the standard for modems back in the 1980s, has been operating under Chapter 11 bankruptcy protection since last fall. The closely-held company owes a reported $70-$80 million to creditors.

Hayes signed a letter of intent to merge with Boca Research, also a maker of communications equipment, in July. Dennis Hayes at first publicly applauded the deal, saying it was the best way to pull his namesake company out of Chapter 11. Under the agreement, Hayes would become the largest shareholder in Boca, which is publicly traded, and assume the position of vice-chairman, reporting to Boca chief executive officer and president Tony Zalenski. The newly merged company was to bear the name Hayes."



Francesco D'Alessandro
Spain
Local time: 10:52
Native speaker of: Native in ItalianItalian
PRO pts in pair: 67

Peer comments on this answer (and responses from the answerer)
agree  Heathcliff: True, but your citation isn't exactly news -- it dates from 1995! :)
5 hrs
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45 mins
recovery plan by means of cession/assignation/transfer


Explanation:
redressement may also be adjustment or rectification, but in your context I think this is recovery.


    Business French, Collin & Laurendeau
Parrot
Spain
Local time: 11:52
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1861
Login to enter a peer comment (or grade)

6 hrs
recovery plan by (the) transfer


Explanation:
"XYZ agree to contribute to financing the recovery plan by the transfer suggested by the (would-be) Purchaser/New Owner... "

"transfer" works as it can mean sale, asignment, any change of hands of property, and as we don't have the full picture.

A company which has a “plan de redressement” has the receivers in, following an application to the court by one or a number of its creditors. The whole idea behind receivership is often to avoid liquidation. It's often just putting back the fateful day. (In times when an economic cycle is on a downward trend, there is a tendency to try and save companies where possible. Keeps people employed, money circulating and give the economy a chance – if caught early enough. If things can’t be straightened out, then the company may have to call it a day and the liquidator may be called in to pick up the pieces. )
Back to receivers. A receiver realizing the assets of a company in receivership under his responsibility will draw up a “plan de redressement”, or “recovery plan”

EUROPE :
http://europa.eu.int/eur-lex/fr/lif/dat/2001/fr_301D0089.htm...

4) Dans un premier temps, la solution des problèmes du CFF envisagée par les autorités françaises était fondée sur la mise en oeuvre d'un plan de redressement - prévoyant le recentrage de l'activité du groupe sur le crédit immobilier à moyen et long termes et sa réorganisation - et son adossement à un partenaire.

http://europa.eu.int/eur-lex/en/lif/dat/2001/en_301D0089.htm...

4) The solution to CFF's problems initially envisaged by the French authorities was based on implementation of a recovery plan, whereby the group was to reorganise and refocus its activities on medium- and long-term property lending, and on a link-up with a partner.


US :

http://www.s-t.com/daily/04-00/04-28-00/a03sr025.htm

Harvard Pilgrim recovery plan presented to high court
By Martin Finucane, Associated Press writer

BOSTON -- Consumer activists told a judge on the state's highest court yesterday that he should have more information in his hands before he ends state receivership of Harvard Pilgrim Health Care, the financially ailing HMO.

Laurie Martinelli, an attorney for Health Care for All, told Supreme Judicial Court Justice Francis Spina, who was considering the state's proposal to end receivership, that "disclosure in this case is inadequate for the court to rule."




Nikki Scott-Despaigne
Local time: 11:52
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 4431
Grading comment
Thanks a lot for the helpful explanation.

RG
Login to enter a peer comment (or grade)

8 hrs
acquisition arrangement


Explanation:
plan de redressement can be a scheme of arrangement. In this case there is a "Repreneur", or acquirer. It seems neatest here to telescope the concepts.

The idea is that the company continues trading, but changes hands.

Peter Freckleton
Australia
Local time: 21:52
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 722
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