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masseverbindlichkeiten

English translation: preferential liabilities

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Masseverbindlichkeiten
English translation:preferential liabilities
Entered by: Alison Schwitzgebel

08:11 May 3, 2002
German to English translations [PRO]
Law/Patents / Insolvency
German term or phrase: masseverbindlichkeiten
"Eine Auszahlung der Ihnen zustehenden Provision für die Unterstützung bei den Verkaufsverhandlungen kann erfolgen, sobald der Käufer den Kaufpreis gezahlt hat und die für die Aufrechterhaltung des Geschäftsbetriebes notwendigen Masseverbindlichkeiten in Abzug gebracht worden sind"

I have found the following description of what "masseverbindlichkeiten" are in the Insolvenzordnung...

"(1) Masseverbindlichkeiten sind weiter die Verbindlichkeiten:1. die durch Handlungen des Insolvenzverwalters oder in anderer Weise durch die Verwaltung, Verwertung und Verteilung der Insolvenzmasse begründet werden, ohne zu den Kosten des Insolvenzverfahrens zu gehören;2. aus gegenseitigen Verträgen, soweit deren Erfüllung zur Insolvenzmasse verlangt wird oder für die Zeit nach der Eröffnung des Insolvenzverfahrens erfolgen muß;3. aus einer ungerechtfertigten Bereicherung der Masse.
(2) Verbindlichkeiten, die von einem vorläufigen Insolvenzverwalter begründet worden sind, auf den die Verfügungsbefugnis über das Vermögen des Schuldners übergegangen ist, gelten nach der Eröffnung des Verfahrens als Masseverbindlichkeiten. Gleiches gilt für Verbindlichkeiten aus einem Dauerschuldverhältnis, soweit der vorläufige Insolvenzverwalter für das von ihm verwaltete Vermögen die Gegenleistung in Anspruch genommen hat.

(3) Gehen nach Absatz 2 begründete Ansprüche auf Arbeitsentgelt nach § 187 des Dritten Buches Sozialgesetzbuch auf die Bundesanstalt für Arbeit über, so kann die Bundesanstalt diese nur als Insolvenzgläubiger geltend machen. Satz 1 gilt entsprechend für die in § 208 Abs. 1 des Dritten Buches Sozialgesetzbuch bezeichneten Ansprüche, soweit diese gegenüber dem Schuldner bestehen bleiben."

But what do we call them in English? I've checked Dietl - no joy there...
Alison Schwitzgebel
France
Local time: 18:17
preferential liabilities
Explanation:
Alison,
they do give us some tough nuts to crack, the Germans, don't they?
Woywode (see ref. below) doesn't have Masseverbindlichkeiten, but he does have the counterpart, Massenanspruch, for which he gives "preferential claim against the bankrupt's estate". Now this word preferential is important here, because what happens in bankruptcy (Konkurs) in both England and Germany, is that some creditors (e.g. tax office, employees etc.) have the first bite at the cherry (if any), and indeed up 100% of their claim. If there's any lolly left over at the end of the day, the 'non-preferential' creditors get a percentage of their claim, seldom 100% tho'.
The Germans, btw, have dropped "Konkurs" in favour of "Insolvenz" (as you rightly perceived), so I suppose we are now required to translate as 'insolvency' (same content, different name).
Btw, the list of Masseverbindlichkeiten in the InsO is not exhaustive - alte Hasen sehen das in dem kleinen Wort 'weiter' im ersten Satz.
HTH a bit,
Rod

--------------------------------------------------
Note added at 2002-05-03 10:42:16 (GMT)
--------------------------------------------------

Sorry, that should be \'Masseanspruch\' above - fooled by the flying fingers, as usual!

--------------------------------------------------
Note added at 2002-05-03 10:52:34 (GMT) Post-grading
--------------------------------------------------

Sorry, Alison, I was in town buying a frozen pizza for my lunch!
Selected response from:

Rod Darby (X)
Ghana
Local time: 16:17
Grading comment
Wicked stuff! I've now been able to find all kinds of references for preferential liabilities on the Web. I've spend half the morning looking for the right answer to this one!!!

4 KudoZ points were awarded for this answer



Summary of answers provided
4preferential liabilities
Rod Darby (X)
1mass liabilities
Rolf Klischewski, M.A.


  

Answers


7 mins   confidence: Answerer confidence 1/5Answerer confidence 1/5
mass liabilities


Explanation:
A guess...

Rolf Klischewski, M.A.
Local time: 18:17
Native speaker of: Native in GermanGerman
PRO pts in pair: 112
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
preferential liabilities


Explanation:
Alison,
they do give us some tough nuts to crack, the Germans, don't they?
Woywode (see ref. below) doesn't have Masseverbindlichkeiten, but he does have the counterpart, Massenanspruch, for which he gives "preferential claim against the bankrupt's estate". Now this word preferential is important here, because what happens in bankruptcy (Konkurs) in both England and Germany, is that some creditors (e.g. tax office, employees etc.) have the first bite at the cherry (if any), and indeed up 100% of their claim. If there's any lolly left over at the end of the day, the 'non-preferential' creditors get a percentage of their claim, seldom 100% tho'.
The Germans, btw, have dropped "Konkurs" in favour of "Insolvenz" (as you rightly perceived), so I suppose we are now required to translate as 'insolvency' (same content, different name).
Btw, the list of Masseverbindlichkeiten in the InsO is not exhaustive - alte Hasen sehen das in dem kleinen Wort 'weiter' im ersten Satz.
HTH a bit,
Rod

--------------------------------------------------
Note added at 2002-05-03 10:42:16 (GMT)
--------------------------------------------------

Sorry, that should be \'Masseanspruch\' above - fooled by the flying fingers, as usual!

--------------------------------------------------
Note added at 2002-05-03 10:52:34 (GMT) Post-grading
--------------------------------------------------

Sorry, Alison, I was in town buying a frozen pizza for my lunch!


    Woywode: Accounting & Tax dico
Rod Darby (X)
Ghana
Local time: 16:17
Native speaker of: English
PRO pts in pair: 193
Grading comment
Wicked stuff! I've now been able to find all kinds of references for preferential liabilities on the Web. I've spend half the morning looking for the right answer to this one!!!
Login to enter a peer comment (or grade)



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