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Masseverwalter

English translation: (bankruptcy) assets administrator

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Masseverwalter
English translation:(bankruptcy) assets administrator
Entered by: Vesna Zivcic
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02:35 Apr 28, 2001
German to English translations [PRO]
Law/Patents
German term or phrase: Masseverwalter
legal text, contract
Tanya Fox
Local time: 14:44
(bankruptcy) assets administrator
Explanation:
Bankruptcy proceedings (Konkurs) are instituted by courts upon being filed for by the bankrupt (Gemeinschuldner) or a creditor. The court appoints an administrator (Masseverwalter), usually an attorney-at-law, who then assumes control over the business of the bankrupt. The administrator is responsible for managing and converting into money any remaining assets. The managing directors are no longer entitled to represent the company. The primary goal of the proceedings is to save the business. The administrator can only liquidate the business if so authorized by the court and if it is the only way to prevent further damage to creditors. The administrator is entitled to cancel long-term debts (especially contracts of employment) in a privileged manner. He thereby has the chance to shrink or close the business on favorable terms. Claims of most employees in insolvency cases are secured by a public insurance fund (Insolvenzentgeltsicherungsfonds).
Selected response from:

Vesna Zivcic
Local time: 23:44
Grading comment
Thank you very much, your answer was most helpful!!!
4 KudoZ points were awarded for this answer

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Summary of answers provided
nareceiver, official receiver, trustee in bankruptcy etc.Serge
na(bankruptcy) assets administrator
Vesna Zivcic
naestate administrator or administrator of assets
Parrot


  

Answers


13 mins
estate administrator or administrator of assets


Explanation:
depending on the context being administered.


    Muret-Sanders
Parrot
Spain
Local time: 23:44
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 315
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1 hr
(bankruptcy) assets administrator


Explanation:
Bankruptcy proceedings (Konkurs) are instituted by courts upon being filed for by the bankrupt (Gemeinschuldner) or a creditor. The court appoints an administrator (Masseverwalter), usually an attorney-at-law, who then assumes control over the business of the bankrupt. The administrator is responsible for managing and converting into money any remaining assets. The managing directors are no longer entitled to represent the company. The primary goal of the proceedings is to save the business. The administrator can only liquidate the business if so authorized by the court and if it is the only way to prevent further damage to creditors. The administrator is entitled to cancel long-term debts (especially contracts of employment) in a privileged manner. He thereby has the chance to shrink or close the business on favorable terms. Claims of most employees in insolvency cases are secured by a public insurance fund (Insolvenzentgeltsicherungsfonds).


    Reference: http://www.jurisint.org/pub/01/en/doc/346_1.htm
Vesna Zivcic
Local time: 23:44
Native speaker of: Croatian
PRO pts in pair: 571
Grading comment
Thank you very much, your answer was most helpful!!!
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6 hrs
receiver, official receiver, trustee in bankruptcy etc.


Explanation:
1998 Summary of Legislation

These include the offer or sale of a business opportunity to an ongoing business operated by the seller which is to be sold in its entirety, or by an executor, administrator, sheriff, receiver, trustee in bankruptcy, guardian, or conservator, or a judicial offer or sale
http://web.legis.state.ia.us/GA/77GA/Session.2/Summary/busi....



Winding up petitions where advertised last week for the following companies. The automatic liquidator for a court appointed liquidator is the official receiver.
http://www.creditman.co.uk/insolven/cwup1308.html

Since Air Siam is bankrupt, the application was filed by the Official Receiver of Air Siam Air Company, Mrs. Langnoi Palawatwichai.
http://www.oha.doe.gov/cases/refunds/1997/MAY/rg27200609.htm


Hope it can help you.
Best Regards,
Serge

Serge
PRO pts in pair: 4

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