KudoZ home » Spanish to English » Law: Contract(s)

Concurso preventivo

English translation: Reorganization proceedings; Meeting of creditors

Advertisement

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Concurso preventivo
English translation:Reorganization proceedings; Meeting of creditors
Entered by: Ltemes
Options:
- Contribute to this entry
- Include in personal glossary

17:53 Jul 1, 2004
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s) / Quiebras
Spanish term or phrase: Concurso preventivo
Termino legal que se refiere a la etapa previa a la quiebra de una empresa
Laurablack
reorganization proceedings; meeting of creditors
Explanation:
a few option. Meeting of creditors prior to filing bankruptcy.

--------------------------------------------------
Note added at 9 mins (2004-07-01 18:02:46 GMT)
--------------------------------------------------

TROUBLED COMPANY REPORTER
... Infobae earlier reported that the Company is asking for \"concurso preventivo\" permission
from Buenos Aires Court No. 1, to start reorganization proceedings. ...
bankrupt.com/TCRLA_Public/030609.mbx - 37k - Cached - Similar pages
[ More results from bankrupt.com ]

Cleary Gottlieb | News and Publications | Recent Assignments ...
... a judicially confirmed consensual reorganization plan approved ... an alternative to the
concurso preventivo, or full-blown insolvency proceeding, in response ...
www.cgsh.com/english/news/NewsDetail.aspx?id=1667 - 14k - Cached - Similar pages

[PDF] Addressed to: Partners of CGC, Suppliers and Customers, Grantors ...
File Format: PDF/Adobe Acrobat - View as HTML
... CGC”) has reached an agreement with the requisite amount of its creditors under
the Reorganization Proceedings (“Concurso Preventivo”) that are taken ...
www.cgc.com.ar/2/Press Release_en.pdf - Similar pages
Selected response from:

Ltemes
United States
Local time: 15:32
Grading comment
Thanks this was the exact term I was looking for. Procedure previous to a proposal for arrangement or default.
4 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
5 +2arrangement with creditor to avoid bankruptcy
Sandra Cifuentes Dowling
4 +2reorganization proceedings; meeting of creditors
Ltemes
5reorganization in bankruptcyxxxBAmary
4 +1preventive receivership (UK) / filing under Chapter 11 (US)CarolynB
5Precautionary agreementOlivella
4Reorganization proceedingsCeleste Orellana Issaly
4bankruptcy proposal
Tom2004
4Chapter 11 re-organisation ( AE): arrangement with creditors to ward off insolvency (BE)xxxKirstyMacC


Discussion entries: 1





  

Answers


5 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
arrangement with creditor to avoid bankruptcy


Explanation:
Glosario de M. Orellana.

Sandra Cifuentes Dowling
Chile
Local time: 19:32
Native speaker of: Native in SpanishSpanish
PRO pts in category: 24

Peer comments on this answer (and responses from the answerer)
agree  Olivella: A este arrangement lo he visto como precautionary agreement
37 mins
  -> No lo sé. Tal vez también podría ser. Gracias, Olivella.

agree  Silvina Matheu: Estoy de acuerdo, pero creditors va en plural
1 hr
  -> Yo creo que no necesariamente. Gracias, Silvina.
Login to enter a peer comment (or grade)

5 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
bankruptcy proposal


Explanation:
bankruptcy proposal

--------------------------------------------------
Note added at 8 mins (2004-07-01 18:01:19 GMT)
--------------------------------------------------

\"More businesses \"go under\" or fail than is necessary! Very often a business can be \"saved\" if caught in time. Even if a company is insolvent it may be possible to save the company by using a provision under the Bankruptcy and Insolvency Act to file a Proposal, (an arrangement) with the creditors of the company.\"

http://www.sands-trustee.com/busprop.htm

Tom2004
Canada
Local time: 18:32
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 155
Login to enter a peer comment (or grade)

8 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
reorganization proceedings; meeting of creditors


Explanation:
a few option. Meeting of creditors prior to filing bankruptcy.

--------------------------------------------------
Note added at 9 mins (2004-07-01 18:02:46 GMT)
--------------------------------------------------

TROUBLED COMPANY REPORTER
... Infobae earlier reported that the Company is asking for \"concurso preventivo\" permission
from Buenos Aires Court No. 1, to start reorganization proceedings. ...
bankrupt.com/TCRLA_Public/030609.mbx - 37k - Cached - Similar pages
[ More results from bankrupt.com ]

Cleary Gottlieb | News and Publications | Recent Assignments ...
... a judicially confirmed consensual reorganization plan approved ... an alternative to the
concurso preventivo, or full-blown insolvency proceeding, in response ...
www.cgsh.com/english/news/NewsDetail.aspx?id=1667 - 14k - Cached - Similar pages

[PDF] Addressed to: Partners of CGC, Suppliers and Customers, Grantors ...
File Format: PDF/Adobe Acrobat - View as HTML
... CGC”) has reached an agreement with the requisite amount of its creditors under
the Reorganization Proceedings (“Concurso Preventivo”) that are taken ...
www.cgc.com.ar/2/Press Release_en.pdf - Similar pages


Ltemes
United States
Local time: 15:32
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 48
Grading comment
Thanks this was the exact term I was looking for. Procedure previous to a proposal for arrangement or default.

Peer comments on this answer (and responses from the answerer)
agree  Refugio: Also "preventive agreement" http://www.signetramos.com/laws/bankruptcy-intro.htm
1 hr
  -> Thank you. And you're absolutely right about "preventive agreement".

agree  Karina Pellegrineschi
3 days17 hrs
  -> Gracias Karina.
Login to enter a peer comment (or grade)

42 mins   confidence: Answerer confidence 5/5
Precautionary agreement


Explanation:
El concurso preventivo es cuando la empresa presenta concordato preventivo (precautionary agreement) a sus acreedores, como lo explicaron antes.

Olivella
Local time: 19:32
Native speaker of: Native in SpanishSpanish
Login to enter a peer comment (or grade)

48 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Chapter 11 re-organisation ( AE): arrangement with creditors to ward off insolvency (BE)


Explanation:
My answer to almost the same question this week. Also many worthy or worthier translations in ProZ glossaries.

BE: (corp.) scheme/ (pers.) deed of arrangement to AVOID banruptcy. Also: CVA - company voluntary arrangement v. IVA - individual vol. arrangement, all introduced by the UK Insolvency Act and Rules 1986.

Prev. Pro answer: Answerer: Marian Greenfield Aug 3 2003

Answer: meeting of creditors [before declaration of bankruptcy]

... What happens when you go to court for the first meeting of creditors in a bankruptcy case. ...'




xxxKirstyMacC
Local time: 23:32
Native speaker of: Native in EnglishEnglish
PRO pts in category: 140
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
preventive receivership (UK) / filing under Chapter 11 (US)


Explanation:
I usually put both, unless I know the nationality of my readers

CarolynB
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12

Peer comments on this answer (and responses from the answerer)
agree  ojinaga
12 hrs
Login to enter a peer comment (or grade)

23 mins   confidence: Answerer confidence 5/5
reorganization in bankruptcy


Explanation:
According to the Law and Business Dictionary by Thomas West (it is the one I like the most, although it is not an Argentine dictionary).
According to Argentine dictionaries, here's what I found: "meeting of creditors to approve and insolvent's plan of reorganization" (Cabanellas de las Cuevas); "composition with creditos" or "scheme of arrangement" (diccionario de Terminología Jurídica, de Mazzucco).
Here you have the definition, in case it helps.
Argentinian's Law: Judicial proceeding conducted under the supervision of a court-appointed official (síndico) in which the debtor retains possession of his assets and stops making payments. This proceeding can only be requested by the debtor, never by the creditors.


--------------------------------------------------
Note added at 1 hr 51 mins (2004-07-01 19:44:42 GMT)
--------------------------------------------------

Sorry, Argentinian Law, no apostrophe.

xxxBAmary
Canada
Local time: 18:32
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 40
Grading comment
Mist helpful but it just came a short time after the one I selected. Thanks a lot!
Login to enter a peer comment (or grade)
The asker has declined this answer
Comment: Mist helpful but it just came a short time after the one I selected. Thanks a lot!

10 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Reorganization proceedings


Explanation:
Reorganization= Barron's Dictionay of Business Terms.

Celeste Orellana Issaly
Local time: 19:32
Specializes in field
Native speaker of: Native in SpanishSpanish
Login to enter a peer comment (or grade)




Return to KudoZ list


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search