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reconocimiento de crédito

English translation: acknowledgment of indebtedness

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11:33 Aug 3, 2000
Spanish to English translations [Non-PRO]
Law/Patents
Spanish term or phrase: reconocimiento de crédito
En el contexto de un juicio de suspensión de pagos
Robert Carter
English translation:acknowledgment of indebtedness
Explanation:
Whereas the phrase "suspensión de pagos" by itself refers simply to a suspension of payments by a company, a "juicio de suspensión de pagos" is an actual insolvency proceeding, i.e., a type of reorganization proceeding (short of an actual declaration of bankruptcy by a company) in which the appointment of a trustee or financial supervisor is usually required. One step in this proceeding is the "reconocimiento de crédito," in which the company being reorganized admits that credit has been extended to it (either voluntarily or as a result of the non-payment of its debts) by the parties with whom it has business relationships, and states that it owes money to those parties -- in other words, the company being reorganized acknowledges its indebtedness to its creditors.
Selected response from:

Heathcliff
United States
Local time: 18:52
Grading comment
Thank you, a very helpful explanation.
I had found that phrase before, but it had no explanation behind it, so I didn't use it. I also found the term
"marshalling claims" - what d'you think of this term, to me it seems connected but incorrect - rather this
process occurs after the acknowledgment of indebtedness.
I wonder if you could also tell me what you think the term "convenio preventivo" means, in the same context,
i.e. juicio de suspensión de pagos. Could it be the reorganization plan?
Thanks again.
4 KudoZ points were awarded for this answer

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Summary of answers provided
nare "convenio preventivo":Heathcliff
naacknowledgment of indebtednessHeathcliff
naCredit re-evaluation
Luis Luis
naacknowledgement / admission of credit
Claudia Berison
nacredit recognition / revision
Valeria Audivert


  

Answers


6 mins
credit recognition / revision


Explanation:
I would like to see this words in the context, but I thikn it means credit revision / analysis.

Valeria Audivert
Local time: 21:52
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 14

Peer comments on this answer (and responses from the answerer)
Heathcliff
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1 hr
acknowledgement / admission of credit


Explanation:
Ayudaría el contexto; estas serían las opciones si lo que se quiere decir es que el crédito que alguien tiene es reconocido como tal. Suerte!


Claudia Berison
Local time: 23:52
Native speaker of: Spanish
PRO pts in pair: 38

Peer comments on this answer (and responses from the answerer)
Heathcliff
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6 hrs
Credit re-evaluation


Explanation:
or,

Credit rate revision.


Mucho gusto.
Luis M. Luis

Luis Luis
United States
Local time: 20:52
Native speaker of: Native in PortuguesePortuguese
PRO pts in pair: 171

Peer comments on this answer (and responses from the answerer)
Heathcliff
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1 day 9 hrs
acknowledgment of indebtedness


Explanation:
Whereas the phrase "suspensión de pagos" by itself refers simply to a suspension of payments by a company, a "juicio de suspensión de pagos" is an actual insolvency proceeding, i.e., a type of reorganization proceeding (short of an actual declaration of bankruptcy by a company) in which the appointment of a trustee or financial supervisor is usually required. One step in this proceeding is the "reconocimiento de crédito," in which the company being reorganized admits that credit has been extended to it (either voluntarily or as a result of the non-payment of its debts) by the parties with whom it has business relationships, and states that it owes money to those parties -- in other words, the company being reorganized acknowledges its indebtedness to its creditors.

Heathcliff
United States
Local time: 18:52
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 843
Grading comment
Thank you, a very helpful explanation.
I had found that phrase before, but it had no explanation behind it, so I didn't use it. I also found the term
"marshalling claims" - what d'you think of this term, to me it seems connected but incorrect - rather this
process occurs after the acknowledgment of indebtedness.
I wonder if you could also tell me what you think the term "convenio preventivo" means, in the same context,
i.e. juicio de suspensión de pagos. Could it be the reorganization plan?
Thanks again.
Login to enter a peer comment (or grade)

5 days
re "convenio preventivo":


Explanation:
In this context, it's a temporary or provisional agreement between the company and its creditors, usually monitored by the trustee or supervisor, under which the company promises to perform, or refrain from performing, certain acts (usually of a financial nature) while the reorganization proceedings are underway. -- " Marshalling claims" is what the creditors do, specifically when they gather all their information about the debts owed to them by the company and present those claims to the court or to the trustee. This step can take place either before or after the debtor formally acknowledges its debts. -- Best, HC

Heathcliff
United States
Local time: 18:52
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 843
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