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acción de responsabilidad

English translation: action to claim liability

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11:47 Jan 19, 2003
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: acción de responsabilidad
In a company's by-laws

... el acuerdo de ejercicio de la acción de responsabilidad de administradores será adoptado por mayoría de los votos válidamente emitidos ...

Is it like a vote of no confidence??
MJ Barber
Spain
Local time: 03:33
English translation:action to claim liability
Explanation:
:)

--------------------------------------------------
Note added at 2003-01-19 13:30:32 (GMT)
--------------------------------------------------

D&O (Directors and Officers Liability) is often covered under an insurance policy. It would be used in the event of a third party cliam brought for negligence by comany directors. In your case, that director would be sued by the other directors acting by mutual consent.
Selected response from:

Sheilann
Spain
Local time: 03:33
Grading comment
Thanks
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +1Derivative suit
Thomas West
5Responsible Actions
Maria Luisa Duarte
5 -1Manager's powers of attorney
María Eugenia Wachtendorff
4the managers' discharge of duties in good faith
William Stein
5 -1action to claim liability to the Directors
MJRIERA
4action to claim liability
Sheilann
5 -1judicous act / prudent act
Telesforo Fernandez
3"accountability action " or just "accountability"
Lucinda
2act of responsibility
smarinella


  

Answers


4 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5
act of responsibility


Explanation:
it's only the literary translation....

smarinella
Italy
Local time: 03:33
Native speaker of: Native in ItalianItalian
PRO pts in pair: 4

Peer comments on this answer (and responses from the answerer)
neutral  Sam D: You mean "literal", don't you?
5 hrs
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5 mins   confidence: Answerer confidence 5/5
Responsible Actions


Explanation:
+

--------------------------------------------------
Note added at 2003-01-19 12:12:18 (GMT)
--------------------------------------------------

... The directors are responsible for strategic management of the company and will be personally liable for their actions as directors of the company. ...

http://www.isis-innovation.com/researchers/spinout-9.html

Maria Luisa Duarte
Spain
Local time: 03:33
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in pair: 3168

Peer comments on this answer (and responses from the answerer)
agree  xxxEDLING
1 hr
  -> gracias ED!

disagree  Thomas West: acción means "action" in the sense of "lawsuit" here.
1 day 8 hrs
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22 mins   confidence: Answerer confidence 5/5 peer agreement (net): -1
judicous act / prudent act


Explanation:
I would put it as ' judicious act'or 'prudent act'

Telesforo Fernandez
Local time: 08:03
PRO pts in pair: 262

Peer comments on this answer (and responses from the answerer)
disagree  Thomas West: acción doesn't mean "act" here; it means "lawsuit" i.e., action.
1 day 7 hrs
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33 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
"accountability action " or just "accountability"


Explanation:
I believe that this is what the administrators are being held accountable for.

Lucinda
Local time: 23:33
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 82
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
action to claim liability


Explanation:
:)

--------------------------------------------------
Note added at 2003-01-19 13:30:32 (GMT)
--------------------------------------------------

D&O (Directors and Officers Liability) is often covered under an insurance policy. It would be used in the event of a third party cliam brought for negligence by comany directors. In your case, that director would be sued by the other directors acting by mutual consent.

Sheilann
Spain
Local time: 03:33
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 886
Grading comment
Thanks
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
the managers' discharge of duties in good faith


Explanation:
This means that a majority of the shareholders must vote their approval of the managers' behavior during the accounting period. Here's an example:

Title 31 - §652. Duties of managers and members
... The managers and members of a limited liability company shall exercise their powers and discharge their duties in good faith with a view to the interests of ...
janus.state.me.us/legis/statutes/31/title31sec652.html



William Stein
Costa Rica
Local time: 20:33
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1214
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6 hrs   confidence: Answerer confidence 5/5 peer agreement (net): -1
Manager's powers of attorney


Explanation:
or legal accountability on behalf of the company

María Eugenia Wachtendorff
Chile
Local time: 23:33
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 3883

Peer comments on this answer (and responses from the answerer)
disagree  Thomas West: Una acción de responsabilidad es un juicio que se entabla--no tiene nada que ver con powers of attorney.
1 day 1 hr
  -> Muchas gracias, Thomas. La verdad es que con tan poco contexto y sin saber que se trataba de seguros, tomé la frase como la actuación de los ejecutivos en representación de la empresa. Tu aclaración ha quedado debidamente ingresada en mis registros.
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15 hrs   confidence: Answerer confidence 5/5 peer agreement (net): -1
action to claim liability to the Directors


Explanation:
La "acción de responsabilidad de los administradores" es una acción judicial que puede ser ejercitada por los accionistas o por los acreedores de la sociedad ante ciertas actitudes de los Administradores (Directors) de una sociedad (company).

MJRIERA
Spain
Local time: 03:33
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 12

Peer comments on this answer (and responses from the answerer)
disagree  Thomas West: Actions claiming that directors are liable are called "derivative suits."
17 hrs
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1 day 8 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
Derivative suit


Explanation:
Shareholders file a "derivative suit" when directors have misbehaved or mismanaged the company.

Look at http://www.oecd.org/pdf/M00029000/M00029190.pdf

and search for "derivative suit"--the footnote says "Thus, investors need the derivative suit (la acción social de responsabilidad) to supplement market protections against breaches of loyalty."

Thomas West
Local time: 21:33
PRO pts in pair: 72

Peer comments on this answer (and responses from the answerer)
agree  Patrick Weill: Thank you Mr. West.
3760 days
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