English translation: If the funds do not accrue to the insolvent assets
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00:22 Sep 17, 2001
German to English translations [PRO] Law/Patents
German term or phrase:Gelangen die Mittel nicht zur Masse
Text about insolvency claims. This sentence is proving to be a nightmare. I am having trouble with the latter part of it, from wird gleichwohl "Schuldbefreiende Leistungen an die Schuldnerin koennen nach dem Eroeffnungszeitpunkt nicht mehr erfolgen, wird gleichwohl an die Schuldnerin geleistet und gelangen die Mittel nicht zur Masse, besteht die Gefahr der nochmaligen Leistungsverpflichtung gegenueber dem Insolvenzverwalter." Hope you can help
...and are the funds not included in the bankcruptcy assets..
Explanation: I can explain the contents of the sentence to you in an example:
Company A ows money to B. Bankcruptcy procedures start, before A has paid to B. If, after procedures have started, A pays to the accounts of B, these funds do not become part of the estate (assets) of the company, subject to bankcruptcy regulations. So if the accountant of B pockets the money and disappears into the sunset, B would have to pay again to the "official receiver" (br.) or "liquidator". His first payment would not be considered "schuldbefreiend".