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Insolvenzmasse

English translation: insolvent's/bankrupt's assets

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Insolvenzmasse/Konkursmasse
English translation:insolvent's/bankrupt's assets
Entered by: Kim Metzger
Options:
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23:06 Mar 4, 2002
German to English translations [PRO]
Law/Patents - Law: Contract(s) / contract
German term or phrase: Insolvenzmasse
This whole sentence is causing me problems, but mainly the part about *mangels einer den Kosten des Verfahrens entsprechenden Insolvenzmasse abgelehnt worden ist*

Der Auftraggeber kann vom Vertrag zurücktreten oder den Vertrag mit sofortiger Wirkung kündigen,
wenn über das Vermögen des Auftragnehmers das Insolvenzverfahren eröffnet oder dessen
Eröffnung mangels einer den Kosten des Verfahrens entsprechenden Insolvenzmasse abgelehnt
worden ist oder wenn die ordnungsgemäße Abwicklung des Vertrags dadurch in Frage gestellt ist,
dass er seine Zahlungen nicht nur vorübergehend einstellt.
Kim Metzger
Mexico
Local time: 01:45
assets in the insolvency
Explanation:
compare to Konkursmasse = assets in the bancruptcy (Eurodicauto). if the opening of the insolvency procedure is refused due to the fact that the assets in the insolvency are small in comparison to the costs of the procedure.
Greetings,

Nikolaus

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Note added at 2002-03-04 23:19:36 (GMT)
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see: http://www.mlj.com.my/articles/P.Omar1.htm
Selected response from:

Elisabeth Ghysels
Local time: 08:45
Grading comment
This was a hard decision, but I chose Nickolaus because he was the first to make the meaning clear.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1bankrupt estate, bankruptcy estate, debtor's assets, estate in bankruptcy, insolvent assets
Regina Landeck
5bankruptcy assetsxxxGATI
5bankrupt's estate or assets
Dr. Fred Thomson
4See explanation:Beate Lutzebaeck
4assets in the insolvency
Elisabeth Ghysels


  

Answers


11 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
assets in the insolvency


Explanation:
compare to Konkursmasse = assets in the bancruptcy (Eurodicauto). if the opening of the insolvency procedure is refused due to the fact that the assets in the insolvency are small in comparison to the costs of the procedure.
Greetings,

Nikolaus

--------------------------------------------------
Note added at 2002-03-04 23:19:36 (GMT)
--------------------------------------------------

see: http://www.mlj.com.my/articles/P.Omar1.htm

Elisabeth Ghysels
Local time: 08:45
PRO pts in category: 8
Grading comment
This was a hard decision, but I chose Nickolaus because he was the first to make the meaning clear.
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32 mins   confidence: Answerer confidence 5/5
bankrupt's estate or assets


Explanation:
Also, "assets in bankruptcy or
property divisible among creditors
Dietl, Romain

Dr. Fred Thomson
United States
Local time: 00:45
Specializes in field
Native speaker of: English
PRO pts in category: 463
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59 mins   confidence: Answerer confidence 5/5
bankruptcy assets


Explanation:
Insolvenzmasse is what used to be Konkursmasse.

xxxGATI
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1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +1
bankrupt estate, bankruptcy estate, debtor's assets, estate in bankruptcy, insolvent assets


Explanation:
All the above options are offered by Wilhelm Schäfer: Wirtschaftswörterbuch under "Konkursmasse". I believe you may replace the word "bankruptcy" with "insolvency", as these terms are synomymous.

Regina Landeck
Local time: 00:45
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  Kathi Stock: insolvency instead of bankruptcy
4 hrs
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4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
See explanation:


Explanation:
I don't really have anything to add with regard to the translation of Konkursmasse/Insolvenzmasse, as all of the above terms would work, but I thought an explanation might be helpful to understand (and translate) this sentence: The principal may withdraw from the contract on a variety of grounds, one being that the insolvency proceedings are not instituted against the contractor because the costs associated with these proceedings would exceed the value of the [whatever you want to call Konkursmasse] (ie the competent court denies the commencement of bankruptcy proceedings cos in this case nobody would cover the court fees + costs - section 54 of the Insolvenzordnung)

=> "The principal may withdraw from the contract or terminate the contract with immediate effect, where bankruptcy proceedings have been instituted with regard to the contractor's assets, or the institution of bankruptcy proceedings has been denied due to the fact that the [bankrupt's assets] fall short of the costs associated with such proceedings, or where proper performance of the contract is jeopardised by the fact that the contractor has (not only temporarily) ceased to make payments."


    Woywode, Accounting and Tax Dico
Beate Lutzebaeck
New Zealand
Local time: 18:45
Specializes in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 222
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