[f]ase de convenio

English translation: Debt settlement, also known as debt arbitration, debt negotiation or credit settlement.

21:43 Nov 7, 2019
Spanish to English translations [PRO]
Bus/Financial - Law (general) / Insolvency law
Spanish term or phrase: [f]ase de convenio
Hi,

Is this composition phase or what does this mean? Spain.

ES - context:
Mediante Auto de fecha 8 de Octubre de 2018, recaído en procedimiento de solicitud de declaración de concurso necesario, que se sigue ante el Juzgado de lo Mercantil número 1 de San Sebastián, bajo el número 86/18 de Autos, se declara finalizada ***la [f]ase de convenio*** y se abre la fase de liquidación, del que igualmente deduzco fotocopia, con valor de testimonio, dejo incorporada a la presente.

EN - first draft, has not been edited at all yet:
By means of Court Order dated 8 October, 2018, issued in the context of the application procedure for applying to declare inevitable insolvency that is pursued before Commercial Court No. 1 in San Sebastián, under No. 86/18 of the Court Files, the ***composition phase*** is declared to have been completed and the liquidation phase is being instituted, of which I also make a photocopy, having the value of a certified copy. This is being incorporated into the present document.

No Australian English, please.

Cheers,
Sebastian Witte
Germany
Local time: 09:06
English translation:Debt settlement, also known as debt arbitration, debt negotiation or credit settlement.
Explanation:
This phase of the liquidation process involves the debtors and creditors reaching a settlement, which will be regarded as payment in full.

Please see links below, explaining the terms in Spanish and English.

Thanks!
Selected response from:

JohnKelly
Australia
Local time: 19:06
Grading comment
Thanks.
3 KudoZ points were awarded for this answer



Summary of answers provided
5Debt settlement, also known as debt arbitration, debt negotiation or credit settlement.
JohnKelly
4creditors' assent (to scheme) stage
Adrian MM.
3stage of contract/agreemeent
Juan Arturo Blackmore Zerón


  

Answers


30 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
stage of contract/agreemeent


Explanation:
http://universidad-derecho.over-blog.com/article-etapas-proc...

https://www.concordnow.com/blog/7-stages-of-contract-managem...

Juan Arturo Blackmore Zerón
Mexico
Local time: 02:06
Meets criteria
Works in field
Native speaker of: Spanish
PRO pts in category: 45
Notes to answerer
Asker: Yes, sure, this is the obvious translation. Can we make that fit the insolvency context at all though?

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1 hr   confidence: Answerer confidence 5/5
Debt settlement, also known as debt arbitration, debt negotiation or credit settlement.


Explanation:
This phase of the liquidation process involves the debtors and creditors reaching a settlement, which will be regarded as payment in full.

Please see links below, explaining the terms in Spanish and English.

Thanks!

Example sentence(s):
  • The debtors and creditors agreed on a reduced balance, that will be regarded as payment in full.

    https://guiasjuridicas.wolterskluwer.es/Content/Documento.aspx?params=H4sIAAAAAAAEAMtMSbF1jTAAAUMjQ1NDtbLUouLM_DxbIwMDCwNzAwuQQGZapUt-ckhlQa
    https://en.wikipedia.org/wiki/Debt_settlement
JohnKelly
Australia
Local time: 19:06
Meets criteria
Native speaker of: Native in EnglishEnglish
PRO pts in category: 19
Grading comment
Thanks.
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10 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
fase de convenio
creditors' assent (to scheme) stage


Explanation:
We need to distinguish between US Am/Can E, E&W, Scots & Aussie /NZ terminology.

Broadly, the creditors will agree or 'assent' to a certain composition *payment* or rate of dividend in banruptcy (la cuota > die Quote)

Example sentence(s):
  • US Am: he consent of creditors was required for a discharge wherethe estate paid less than fifty percent, unless a stated majority in numberand value of his creditors assented to a smaller dividend.

    Reference: http://pdfs.semanticscholar.org/f352/84a409cff14bc26e7330899...
Adrian MM.
United Kingdom
Meets criteria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 151
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