la exclusiva de sus créditos de la masa

English translation: the exclusion of its credits from the bankruptcy proceeding

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:la exclusiva de sus créditos de la masa
English translation:the exclusion of its credits from the bankruptcy proceeding
Entered by: Maria Belen

14:45 Apr 7, 2005
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s)
Spanish term or phrase: la exclusiva de sus créditos de la masa
Especialmente impondrá ante cualquier tercero la independencia del patrimonio separado de la Unión Temporal respecto al suyo propio, obligándose a conseguir para ella la exclusiva de sus créditos de la masa.
Lorna O'Donoghue
Local time: 00:47
the exclusion of its credits from the bankruptcy proceeding
Explanation:
Hi! The Spanish text is wrong when it refers to the "EXCLUSIVA de sus créditos de la masa". It should state the "EXCLUSION de sus créditos de la masa", this is, the exclusion of Union Temporal's credits from the bankruptcy of any of its members. That principle derives from the fact of Unión Temporal being a new legal person, different from its members. Therefore, when one of its members goes bankrupt, that bankruptcy shall not affect or include Unión Temporal's credits.

note: "masa" means literally "body of creditors". If you wish, instead of using "from the bankruptcy proceeding" you can say "from the action of the body of creditors (of the bankruptcy of any of its members)".

Regards

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Note added at 4 hrs 3 mins (2005-04-07 18:48:56 GMT)
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Hi! Legally, the translation of the phrase as the granting of any kind of exclusivity within a bankrupcy scenario has no sense. If we consider \"exclusivity\" as a synonym of \"privilege\" (privileged credits, such as a mortgage), it would still lack sense, insofar as privileges are only legal, and therefore cannot be created by an agreement.
The only feasible sense (in legal terms) of the quoted phrase is that of an exclusion of Union Temporal\'s assets from the bankruptcy of its members, by virtue of its being a new and different legal person.
Good vibes.

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Note added at 4 hrs 5 mins (2005-04-07 18:51:16 GMT)
--------------------------------------------------

To grasp the real meaning of the sense bear in mind how it starts: \"Especialmente impondrá ante cualquier tercero la independencia del patrimonio separado de la Unión Temporal respecto al suyo propio...\"
Thus, the agreement tends to protect Unión Temporal\'s assets from the action of other creditors, within a bankruptcy proceeding.
Cheerio and good luck

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Note added at 4 hrs 18 mins (2005-04-07 19:04:13 GMT)
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I meant \"the real meaning of the sentence\" :P
rgds.
Selected response from:

Maria Belen
Local time: 20:47
Grading comment
Many thanks to all!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1the exclusion of its credits from the bankruptcy proceeding
Maria Belen
5the exclusive right of its credits of the mass/ The sole right of his credits of the mass
Gabriela Rodriguez
4the exclusive rights of his loans on assets
Margarita Ezquerra (Smart Translators, S.L.)
4.... his claims be exempted from bankruptcy proceedings
Mariela Barcelo


  

Answers


3 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
la exclusiva de sus créditos de la masa
the exclusive rights of his loans on assets


Explanation:
suerte

Margarita Ezquerra (Smart Translators, S.L.)
Spain
Local time: 01:47
Works in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 986
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2 hrs   confidence: Answerer confidence 5/5
la exclusiva de sus créditos de la masa
the exclusive right of its credits of the mass/ The sole right of his credits of the mass


Explanation:
Suerte!!!!!!!!!!!

Gabriela Rodriguez
Argentina
Local time: 20:47
Native speaker of: Native in SpanishSpanish
PRO pts in category: 8
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
la exclusiva de sus créditos de la masa
.... his claims be exempted from bankruptcy proceedings


Explanation:
I would use the word claims for "créditos" in this particular context.

Mariela Barcelo
Local time: 20:47
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 4
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11 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
la exclusiva de sus créditos de la masa
the exclusion of its credits from the bankruptcy proceeding


Explanation:
Hi! The Spanish text is wrong when it refers to the "EXCLUSIVA de sus créditos de la masa". It should state the "EXCLUSION de sus créditos de la masa", this is, the exclusion of Union Temporal's credits from the bankruptcy of any of its members. That principle derives from the fact of Unión Temporal being a new legal person, different from its members. Therefore, when one of its members goes bankrupt, that bankruptcy shall not affect or include Unión Temporal's credits.

note: "masa" means literally "body of creditors". If you wish, instead of using "from the bankruptcy proceeding" you can say "from the action of the body of creditors (of the bankruptcy of any of its members)".

Regards

--------------------------------------------------
Note added at 4 hrs 3 mins (2005-04-07 18:48:56 GMT)
--------------------------------------------------

Hi! Legally, the translation of the phrase as the granting of any kind of exclusivity within a bankrupcy scenario has no sense. If we consider \"exclusivity\" as a synonym of \"privilege\" (privileged credits, such as a mortgage), it would still lack sense, insofar as privileges are only legal, and therefore cannot be created by an agreement.
The only feasible sense (in legal terms) of the quoted phrase is that of an exclusion of Union Temporal\'s assets from the bankruptcy of its members, by virtue of its being a new and different legal person.
Good vibes.

--------------------------------------------------
Note added at 4 hrs 5 mins (2005-04-07 18:51:16 GMT)
--------------------------------------------------

To grasp the real meaning of the sense bear in mind how it starts: \"Especialmente impondrá ante cualquier tercero la independencia del patrimonio separado de la Unión Temporal respecto al suyo propio...\"
Thus, the agreement tends to protect Unión Temporal\'s assets from the action of other creditors, within a bankruptcy proceeding.
Cheerio and good luck

--------------------------------------------------
Note added at 4 hrs 18 mins (2005-04-07 19:04:13 GMT)
--------------------------------------------------

I meant \"the real meaning of the sentence\" :P
rgds.

Maria Belen
Local time: 20:47
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 12
Grading comment
Many thanks to all!

Peer comments on this answer (and responses from the answerer)
agree  Adriana de Groote: Tu explicación hace mucho sentido, y voto por tus segundas opciones.
1 hr
  -> gracias Adriana!
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