preconcurso

English translation: grace period

18:46 Nov 26, 2019
Spanish to English translations [PRO]
Bus/Financial - Business/Commerce (general) / Spanish shareholders
Spanish term or phrase: preconcurso
Not sure if i have a lot of context, but here it is: Tras nacionalizar XXX en 2012, las autoridades argentinas obligaron a YYY renovar licencias por 117 millones. Fue un detonante del preconcurso.

From what I could find, preconcurso in Span is: Sigue siendo una figura desconocida pero puede ser muy valiosa para superar situaciones de crisis en la empresa… Lo que se conoce como preconcurso es un trámite que la Ley Concursal prevé para que la empresa en dificultades pueda negociar con sus acreedores.

so is it creditor's meeting? preliminary creditors' meeting? or something else. I don't see anyone going bankrupt in this article...
Reed James
Chile
Local time: 04:50
English translation:grace period
Explanation:
Comencemos por explicar lo fundamental: ¿Qué es un preconcurso de acreedores? En realidad, no más que una prórroga o periodo de gracia que la ley concede a las empresas que están a punto de entrar en concurso para que tengan una última oportunidad de reconducir su situación antes de la intervención judicial.

https://www.leanabogados.com/concursal/preconcurso-de-acreed...

Or extension
Selected response from:

Patricia Fierro, M. Sc.
Ecuador
Local time: 02:50
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +1grace period
Patricia Fierro, M. Sc.
4pre-insolvency proceedings
patinba
3voluntary scheme (of arrangement/US: Chapter 11) stage
Adrian MM.


Discussion entries: 1





  

Answers


18 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
grace period


Explanation:
Comencemos por explicar lo fundamental: ¿Qué es un preconcurso de acreedores? En realidad, no más que una prórroga o periodo de gracia que la ley concede a las empresas que están a punto de entrar en concurso para que tengan una última oportunidad de reconducir su situación antes de la intervención judicial.

https://www.leanabogados.com/concursal/preconcurso-de-acreed...

Or extension

Patricia Fierro, M. Sc.
Ecuador
Local time: 02:50
Specializes in field
Native speaker of: Native in SpanishSpanish, Native in EnglishEnglish
PRO pts in category: 58

Peer comments on this answer (and responses from the answerer)
agree  neilmac: Sounds right to me, although am no expert in this area....
12 hrs
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
pre-insolvency proceedings


Explanation:
I think this gives a clear idea of what is being referred to.

A guide to pre-insolvency and insolvency proceedings across ...
https://www2.deloitte.com › global › pages › legal › articles › europe-insol...
The Deloitte Legal Guide to Pre-insolvency & Insolvency Proceedings details the functioning of European insolvency law, the objectives of harmonization at the ...
The Characterization of Pre-Insolvency Proceedings ... - SSRN
https://www.ssrn.com › ...
by I Mevorach - ‎2019
Sep 14, 2019 - This article argues, however, that we should be slow to exclude pre-insolvency proceedings from cross-border insolvency law: these ...
Mediation in pre-insolvency proceedings - Revista de Mediación
https://revistademediacion.com › articulos › mediation-in-pre-insolvency-p...
Mediation in pre-insolvency proceedings. Abridged version in English of the original. By Lorenzo Prats Albentosa; Published in Revista de Mediación Volume 7

patinba
Argentina
Local time: 04:50
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 605
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16 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
voluntary scheme (of arrangement/US: Chapter 11) stage


Explanation:
Not sure what the target-readership might be, but the USA/ Can. would be different to the UK and Oz/NZ - hence medium confidence level.

Next for a company in the UK would come the creditors' appointment of a 'Committee of Inspection' - that I didn't post as reportedly no sign of a corporate insolvency/ AmE-only corporate bankruptcy.

Corporate: Scheme/CVA > Company Voluntary Arrangement Personal: Deed of Arrangement | IVA > Individual Voluntary Arrangement.

Example sentence(s):
  • preconcurso: the first step in the concurso de acreedores

    Reference: http://glosbe.com/es/en/preconcurso%20de%20acreedores
    Reference: http://https://uk.practicallaw.thomsonreuters.com/6-107-3974...
Adrian MM.
United Kingdom
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12
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