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ammissione in concordato

English translation: makes a composition with creditors

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11:00 Nov 21, 2000
Italian to English translations [PRO]
Law/Patents
Italian term or phrase: ammissione in concordato
...liquidazione amministrativa coatta, ammissione in concordato o amministrazione controllata.

It's a list of reasons why a company can be disqualified for a contract. I'm guessing 'composition arrangements' Does anyone know for sure?
Amy Taylor
United States
Local time: 12:56
English translation:makes a composition with creditors
Explanation:
is subject to compulsory administrative winding up, makes a composition with creditors or goes into receivership


* * *
The first term has no real equivalent in US/UK law. It is a special procedure for State owned companies only, a form of compulsory winding up ordered by the relevant ministry and overseen by liquidators appointed by it.

The second term is more or less equivalent to the UK/US "arrangement with creditors" or "composition with creditors".

The third term is similar to the UK concept of "receivership" or the US one of "reorganisation".
Selected response from:

Richard Boyce
Local time: 20:56
Grading comment
Thanks for the clarification.
Thanks also to Anthony & Sonia.
4 KudoZ points were awarded for this answer

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Summary of answers provided
naammissione in concordatoAnthony Alioto
namakes a composition with creditorsRichard Boyce


  

Answers


3 hrs
makes a composition with creditors


Explanation:
is subject to compulsory administrative winding up, makes a composition with creditors or goes into receivership


* * *
The first term has no real equivalent in US/UK law. It is a special procedure for State owned companies only, a form of compulsory winding up ordered by the relevant ministry and overseen by liquidators appointed by it.

The second term is more or less equivalent to the UK/US "arrangement with creditors" or "composition with creditors".

The third term is similar to the UK concept of "receivership" or the US one of "reorganisation".

Richard Boyce
Local time: 20:56
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 307
Grading comment
Thanks for the clarification.
Thanks also to Anthony & Sonia.
Login to enter a peer comment (or grade)

23 hrs
ammissione in concordato


Explanation:
We Italian translators here in SF. agree with Richard Boyce.

We add the following albiet over-simplified.

The first does not exist in the US. It deals with "Le Cooperative".

The second closely resembles Chapter 11 prodeedings i.e., business failures

The third, in which a "ammistratore" is appointed to address and resolve a hopefully transitory financial crisis

Anthony Alioto & Sonia Spadoni
Legal and financial translators.It<>Eng

Anthony Alioto
United States
Local time: 11:56
PRO pts in pair: 11
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