Compañía en convocatoria

English translation: company in a court-supervised, compulsory scheme of arrangement

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Compañía en convocatoria
English translation:company in a court-supervised, compulsory scheme of arrangement
Entered by: Viviana Lemos

23:50 Jan 11, 2004
Spanish to English translations [PRO]
Law/Patents
Spanish term or phrase: Compañía en convocatoria
Se trata de una compañía que se encuentra en convocatoria de acreedores. Gracias.
Viviana Lemos
Local time: 09:36
company in a court-supervised, compulsory scheme of arrangement
Explanation:
lit. that has summoned a creditors' meeting.

Compulsory is meant to denote a creditor's petition. Voluntary would be a petition by the co. itself.

Scheme of arrangement subsumes a meeeting of creditors - but a co. can hardly be in such a meeting.

Butterworths SPA>ENG law dict. gives a long-winded explanation using questionable insolvency terms: 'petition to call creditors' meeting (before a judge, by a (judgment?) debtor's creditor, for the purpose of forestalling a (the?) debtor's bankruptcy'. As a consequence..., the creditors will vote on a plan .. to extend (reschedule?) the payment periods and lower level of payments. Upon an affirmative vote (vote in favo(u)r?), the plan (scheme?) must be approved by the court.'
Selected response from:

KirstyMacC (X)
Local time: 14:36
Grading comment
thank you
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +3company that has called (a creditors' meeting)
Henry Hinds
5 +1company standing for a creditors' meeting / apply for bankruptcy proceedings
rhandler
4 +1company in a court-supervised, compulsory scheme of arrangement
KirstyMacC (X)
4Meeting of creditors
Alex Zelkind (X)


  

Answers


15 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
company that has called (a creditors' meeting)


Explanation:
Se trata de una compañía que se encuentra en convocatoria de acreedores.

This involves a company that has called a creditors' meeting

Bankruptcy


    Exp.
Henry Hinds
United States
Local time: 07:36
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in pair: 26512

Peer comments on this answer (and responses from the answerer)
agree  Alex Zelkind (X)
3 mins
  -> Gracias, Alex.

agree  Ines Garcia Botana
3 hrs
  -> Gracias, Inés.

agree  Adam Thomson
14 hrs
  -> Gracias, Adam.
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17 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Meeting of creditors


Explanation:
Puede ser

Alex Zelkind (X)
Native speaker of: Native in RussianRussian
PRO pts in pair: 58
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26 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
company standing for a creditors' meeting / apply for bankruptcy proceedings


Explanation:


Creditors' Meeting

Convocatoria de Acreedores es Creditors' Meeting o Bankruptcy Proceedings una vez a lugar su pedido.
Presentarse a convocatoria de Acreedores es: to apply for/ Stand for a Creditors' Meeting y una vez que se hace lugar al pedido se da inicio al concurso
Otra opción to File Bankruptcy proceedings

Está en el glosario.






    Reference: http://www.proz.com/?sp=h&id=145067&keyword=convocatoria+de+...
rhandler
Local time: 10:36
Native speaker of: Portuguese
PRO pts in pair: 1170

Peer comments on this answer (and responses from the answerer)
agree  Alicia Jordá
9 hrs
  -> Thank you, Alicewond
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27 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
company in a court-supervised, compulsory scheme of arrangement


Explanation:
lit. that has summoned a creditors' meeting.

Compulsory is meant to denote a creditor's petition. Voluntary would be a petition by the co. itself.

Scheme of arrangement subsumes a meeeting of creditors - but a co. can hardly be in such a meeting.

Butterworths SPA>ENG law dict. gives a long-winded explanation using questionable insolvency terms: 'petition to call creditors' meeting (before a judge, by a (judgment?) debtor's creditor, for the purpose of forestalling a (the?) debtor's bankruptcy'. As a consequence..., the creditors will vote on a plan .. to extend (reschedule?) the payment periods and lower level of payments. Upon an affirmative vote (vote in favo(u)r?), the plan (scheme?) must be approved by the court.'

KirstyMacC (X)
Local time: 14:36
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1193
Grading comment
thank you

Peer comments on this answer (and responses from the answerer)
agree  buadog: si para EEUU, chapter 11. ya se han iniciado las bankruptcy proceedings
9 hrs
  -> Interesting US info. The whole point of a scheme in the UK - and of convocataria according to Butterworths - is to fend off and avert an insolvency/bankruptcy scenario,
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