alzamiento de garantías

English translation: lifting or rescinding of guarantees

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:alzamiento de garantías
English translation:lifting or rescinding of guarantees
Entered by: patinba

16:09 Nov 26, 2019
Spanish to English translations [PRO]
Law/Patents - Law (general) / Insolvency
Spanish term or phrase: alzamiento de garantías
Within the context of a lawsuit, the lawyer is explaining an unexpected debt, owed to a legal consultancy firm, which the new owner of a previously bankrupt firm had to pay:

"tal suma se había devengado con ocasión del alzamiento de ciertas garantías en el marco de una acción rescisoria cursada en el seno del proceso concursal"

From what I have seen, "alzar" can have completely different meanings depending on context, ranging from the concealment of assets to lifting an embargo, appealing against something and, of course, raising something, but I haven't been able to find the specific meaning for "garantías". The general suggestion is obviously that the legal consultancy firm was involved in the "alzamiento de garantías" as part of the "acción rescisoria" carried out during the bankruptcy proceedings.

Any help with either of these phrases ("alzamiento" and "acción rescisoria") would be appreciated!
Tracy Byrne
Spain
Local time: 20:07
lifting of guarantees
Explanation:
mortgages and guarantees are usually lifted.

Readers' comments - The Economist
https://www.economist.com › node › all-comments
Why are banks so averse to raising equity? ... The question of when to lift the guarantee may be overtaken bye disappearance of any need for it. Cash rate is ...
A Networked World: Close the doors, turn out the lights
https://keynet.blogs.com › networks › 2008/11 › close-the-doors-turn-out-...
Nov 25, 2008 - The Mafia must be so P'ed off; instead of risking their butts with ... Even bank robber Willie Sutton (of "that's where the money is" fame) must be ... evaporate and the govt can lift the guarantee and/or sell at full price any assets ...
[PDF]Future Financial Supervisory Measures
https://www.bot.or.th › Thai › PressAndSpeeches › Press › News2540
The Ministry of Finance and the Bank of Thailand have undertaken ... institutions, public disclosure, the requirement that board of directors must ... the government may decide to lift the guarantee and replace it instead with a deposit insurance.

Turns out you've been playing Monopoly wrong your whole ...
https://www.indy100.com › article › monopoly-rules-board-game-auction-...
Nov 28, 2017 - The buyer pays the Bank the amount of the bid in cash and receives the Title ... In order to lift the mortgage, the owner must pay the Bank the ...
mortgage deadline - Board & Card Games Stack Exchange
https://boardgames.stackexchange.com › questions › mortgage-deadline
Feb 18, 2015 - Do mortgages go to the bank after three rounds? ... In order to lift the mortgage, the owner must pay the Bank the amount of the mortgage plus .
Selected response from:

patinba
Argentina
Local time: 16:07
Grading comment
Sorry the grading was late - it wouldn't let me grade and then I forgot!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1lifting of guarantees
patinba
4revocation/rescission of guarantees/security interests
Rebecca Jowers
3setting-aside of guarantees including collateral securities
Adrian MM.


  

Answers


27 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
revocation/rescission of guarantees/security interests


Explanation:
I have seen both "revoking" and "rescinding" used in this context.

Rebecca Jowers
Spain
Local time: 20:07
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 2178
Notes to answerer
Asker: Thanks for the suggestion. I used your terms for a more detailed search and came up with several examples, as you say, of "rescind". E.g. https://www.bms-bond.com/wordpress/language/en/guarantee-management-in-insolvency/

Asker: Rebecca - terribly sorry, I've just made a silly mistake and given the points to the wrong answer, as I wanted to give them to you! Shouldn't do things in a rush... Very, very sorry - and thanks again for your help

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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
lifting of guarantees


Explanation:
mortgages and guarantees are usually lifted.

Readers' comments - The Economist
https://www.economist.com › node › all-comments
Why are banks so averse to raising equity? ... The question of when to lift the guarantee may be overtaken bye disappearance of any need for it. Cash rate is ...
A Networked World: Close the doors, turn out the lights
https://keynet.blogs.com › networks › 2008/11 › close-the-doors-turn-out-...
Nov 25, 2008 - The Mafia must be so P'ed off; instead of risking their butts with ... Even bank robber Willie Sutton (of "that's where the money is" fame) must be ... evaporate and the govt can lift the guarantee and/or sell at full price any assets ...
[PDF]Future Financial Supervisory Measures
https://www.bot.or.th › Thai › PressAndSpeeches › Press › News2540
The Ministry of Finance and the Bank of Thailand have undertaken ... institutions, public disclosure, the requirement that board of directors must ... the government may decide to lift the guarantee and replace it instead with a deposit insurance.

Turns out you've been playing Monopoly wrong your whole ...
https://www.indy100.com › article › monopoly-rules-board-game-auction-...
Nov 28, 2017 - The buyer pays the Bank the amount of the bid in cash and receives the Title ... In order to lift the mortgage, the owner must pay the Bank the ...
mortgage deadline - Board & Card Games Stack Exchange
https://boardgames.stackexchange.com › questions › mortgage-deadline
Feb 18, 2015 - Do mortgages go to the bank after three rounds? ... In order to lift the mortgage, the owner must pay the Bank the amount of the mortgage plus .

patinba
Argentina
Local time: 16:07
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1131
Grading comment
Sorry the grading was late - it wouldn't let me grade and then I forgot!
Notes to answerer
Asker: Thanks for your suggestion. As you say, it looks like the term is quite common but I've used the more formal term of "rescind" as it's a legal text to be presented to a court. FYI I found this example of "rescind" (as well as others): https://www.bms-bond.com/wordpress/language/en/guarantee-management-in-insolvency/


Peer comments on this answer (and responses from the answerer)
agree  Luis M. Sosa
5 days
  -> Gracias!
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19 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
setting-aside of guarantees including collateral securities


Explanation:
- that have been defeated in *personal bankruptcy or corporate insolvency* by the receiver or liquidator acting for aggrieved judgment or execution-stage creditors.

Set aside is likely to work in most English Common Law countries.

acción rescisoria - normally on the Brit. Isles, not a unilateral remedy, but 1. mutual by the parties or odered by the court.

Example sentence(s):
  • It is important to emphasise, with regard to SI 2016/1024, r 10.5(5)(b), that all that need be shown is that a dispute exists. Actual liability need not be proven either way, which places a far lower burden of proof on debtors seeking to set demands aside

    Reference: http://https://www.ashfords.co.uk/news-and-media/general/how...
Adrian MM.
United Kingdom
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 155
Notes to answerer
Asker: Thanks for the suggestion. Unfortunately I'd already used "rescind" but I'll note it down for future translations!

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