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estado de concurso

English translation: state of bankruptcy

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:estado de concurso
English translation:state of bankruptcy
Entered by: Ana Brause
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11:22 Dec 28, 2005
Spanish to English translations [PRO]
Law/Patents - Law: Taxation & Customs / seguros
Spanish term or phrase: estado de concurso
La frase es la siguiente: Cuando la otra parte hubiese ido declarada en estado de concurso...

Gracias de antemano por vuestra ayuda.

Felices fiestas a tod@s!
shmily
state of bankruptcy
Explanation:
S/Cabanelas-Hoague
Refiere a bankruptcy proceedings
Selected response from:

Ana Brause
Local time: 23:40
Grading comment
Creo que 'state of bankruptcy'ajusta mejor en este contexto.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1state of bankruptcy
Ana Brause
4 +1bankrupt
John Rynne
4 +1reorganization proceedings
Ana Brassara
4declared bankruptMaria Farina
5 -3competition status
Robert Roata


Discussion entries: 1





  

Answers


20 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
bankrupt


Explanation:
Lacking further context, my guess is that we are talking about bankruptcy. i.e. "when the other party has been declared insolvent/bankrupt".
See the link for Spain's bankruptcy law, called the "Ley Concursal"


    Reference: http://civil.udg.es/normacivil/estatal/contract/L22-03.htm
John Rynne
Local time: 04:40
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 44

Peer comments on this answer (and responses from the answerer)
agree  Henry Hinds
4 hrs
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22 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
state of bankruptcy


Explanation:
S/Cabanelas-Hoague
Refiere a bankruptcy proceedings

Ana Brause
Local time: 23:40
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 16
Grading comment
Creo que 'state of bankruptcy'ajusta mejor en este contexto.

Peer comments on this answer (and responses from the answerer)
agree  Walter Landesman: Pues no, he estado muy activo, pero sobre todo viajando en el tiempo KudoZ. Si vas al foro http://www.proz.com/topic/40021 te darás cuenta. Feliz Año too.
1 day11 hrs
  -> Gracias Walter, hacía tiempo que no te veía por acá ¿estabas de vacaciones? ;0) Feliz Año!! =o)
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22 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
declared bankrupt


Explanation:
I know it's confusing but I am sure this refers to bankruptcy.

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Note added at 24 mins (2005-12-28 11:47:05 GMT)
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Sorry, I didn't see the other answers

Maria Farina
Spain
Local time: 04:40
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
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2 mins   confidence: Answerer confidence 5/5 peer agreement (net): -3
competition status


Explanation:
una sugerencia

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Note added at 4 mins (2005-12-28 11:27:21 GMT)
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A Happy New Year to all of you!!!!!

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Note added at 33 mins (2005-12-28 11:56:23 GMT)
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Yo no creo que se trata de bancarrota aqui, sino de un estado de competicion

Robert Roata
Local time: 05:40
Native speaker of: Native in RomanianRomanian

Peer comments on this answer (and responses from the answerer)
disagree  Andy Watkinson: Se refiere a un "concurso de acreedores" - arrangement with creditors.
1 hr

disagree  Ana Brassara: Yes, nothing to do with "competition" in this context.
4 hrs

disagree  Walter Landesman: nada que ver.
1 day12 hrs
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33 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
reorganization proceedings


Explanation:


The purpose of reorganization proceedings is to maintain and rehabilitate a business entity which has difficulty in paying debts but shows hope of rehabilitation in the future. The use of reorganization proceedings is limited to corporations. The court, upon a request from the corporation, creditor, or shareholder, gives a decision to open reorganization proceedings and appoints a trustee.

Under the supervision of the court, the trustee is entrusted with full powers over business and assets of the corporation. He/She is required to draw up, within the period fixed by the court, reorganization plan which contains provisions for the reduction and exemption of debts as well as redemption by installment.

If the reorganization plan is passed by the meeting of persons concerned and approved by the court, the rights of the creditors and shareholders are altered in accordance with reorganization plan. In the event that a reorganization plan is successfully implemented, reorganization proceeding comes to a close.

http://www.scourt.go.kr/scourt_en/Proceedings/t04_08/index.h...

Ana Brassara
Local time: 23:40
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 24

Peer comments on this answer (and responses from the answerer)
agree  Marina Soldati: Si, estado de concurso no es lo mismo que declaración de quiebra
32 mins
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