Glossary entry (derived from question below)
Spanish term or phrase:
entra en procedimiento de quiebra o de concurso mercantil
English translation:
is the subject of voluntary or involuntary bankruptcy or insolvency proceedings
Added to glossary by
Rebecca Jowers
Oct 28, 2012 15:29
11 yrs ago
58 viewers *
Spanish term
Mexico
entra en procedimiento de quiebra o de concurso mercantil
Spanish to English
Law/Patents
Law: Contract(s)
How would you put this, taking into account the phrase, "por iniciativa propia o de cualquier tercero" and that both the “LA ARRENDATARIA” and “EL OBLIGADO SOLIDARIO” are corporate entities?
Si “LA ARRENDATARIA” o “EL OBLIGADO SOLIDARIO” por iniciativa propia o de cualquier tercero, entra en procedimiento de quiebra o de concurso mercantil; salvo que “LA ARRENDATARIA” continúe cumpliendo con las obligaciones establecidas en este contrato;
Your suggestions are appreciated!
Si “LA ARRENDATARIA” o “EL OBLIGADO SOLIDARIO” por iniciativa propia o de cualquier tercero, entra en procedimiento de quiebra o de concurso mercantil; salvo que “LA ARRENDATARIA” continúe cumpliendo con las obligaciones establecidas en este contrato;
Your suggestions are appreciated!
Proposed translations
(English)
Change log
Nov 4, 2012 09:06: Rebecca Jowers Created KOG entry
Proposed translations
1 day 20 hrs
Rebecca Jowers
Spain
Spain
Native in English
Specializes in field
Spain
30 yrs experience legal-commercial
Native in: English 
Works in: English to Spanish, Spanish to English
Related KudoZ points
:
806
Selected
is the subject of voluntary or involuntary bankruptcy or insolvency proceedings
Hi Rich,
Is this by any chance a Spanish Contract? In Spain prior to 2003 bankruptcy was called "quiebra." Post-2003 it's called "concurso," which is universally rendered as "insolvency." So many times Spanish lawyers use both "quiebra" and "concurso" in the same phrase just in case, but actually at present all bankruptcy proceedings are called "concurso" and "quiebra" no longer exists.
At any rate, "quiebra/concurso por initiativa propia" is "voluntary bankruptcy/insolvency", while "quiebra/concurso por iniativa de cualquier tercero" is "involuntary bankruptcy/insolvency." (Google "voluntary or involuntary bankurptcy.") Here is an example taken from an American Bar Assn. publication:
"Tenant’s Bankruptcy
Landlord and Tenant agree that if Tenant ever becomes the
subject of a voluntary or involuntary bankruptcy, reorganization, composition, or other similar type proceeding under the Federal Bankruptcy Laws..." (etc., etc.)"
(This publication might also have additional language that may be useful for your translation. Just Google "The Nuts and Bolts of Retail Leases: Bankruptcy and Insolvency")
Even if the translation is for a US audience (and the text is not from Spain) , for "quiebra" and "concurso" I always stick to the generic "bankruptcy" and "insolvency", avoiding any reference to "Chapter 11" that might prompt readers to assume that the proceedings are the same as in the US when they most likely aren't.
If you want to express the idea of "concurso MERCANTIL", you might say "corporate insolvency".
Hope some of this proves useful.
Saludos desde Madrid!
Is this by any chance a Spanish Contract? In Spain prior to 2003 bankruptcy was called "quiebra." Post-2003 it's called "concurso," which is universally rendered as "insolvency." So many times Spanish lawyers use both "quiebra" and "concurso" in the same phrase just in case, but actually at present all bankruptcy proceedings are called "concurso" and "quiebra" no longer exists.
At any rate, "quiebra/concurso por initiativa propia" is "voluntary bankruptcy/insolvency", while "quiebra/concurso por iniativa de cualquier tercero" is "involuntary bankruptcy/insolvency." (Google "voluntary or involuntary bankurptcy.") Here is an example taken from an American Bar Assn. publication:
"Tenant’s Bankruptcy
Landlord and Tenant agree that if Tenant ever becomes the
subject of a voluntary or involuntary bankruptcy, reorganization, composition, or other similar type proceeding under the Federal Bankruptcy Laws..." (etc., etc.)"
(This publication might also have additional language that may be useful for your translation. Just Google "The Nuts and Bolts of Retail Leases: Bankruptcy and Insolvency")
Even if the translation is for a US audience (and the text is not from Spain) , for "quiebra" and "concurso" I always stick to the generic "bankruptcy" and "insolvency", avoiding any reference to "Chapter 11" that might prompt readers to assume that the proceedings are the same as in the US when they most likely aren't.
If you want to express the idea of "concurso MERCANTIL", you might say "corporate insolvency".
Hope some of this proves useful.
Saludos desde Madrid!
Note from asker:
| Hi Rebecca, It's actually a Mexican lease agreement, but either way, this seems like a neat solution. Thanks :) |
4 KudoZ points awarded for this answer.
Comment: "I asked the client if they wanted a simplified version, but the said to go literal so I translated is as "file bankruptcy or insolvency proceedings or if such proceedings are filed against either of them by any third party". Thanks, Rebecca"
5 mins
enters bankruptcy proceedings or becomes bankrupt
Corporate bankruptcy and Chapter 11 bankruptcy apply to companies.
I think you're asking if "bankruptcy" mainly applies to people?
I think you're asking if "bankruptcy" mainly applies to people?
Note from asker:
| My main concern is whether a distinction should be made between "quiebra" and "concurso mercantil", but also the long-windedness of "por iniciativa propia o de cualquier tercero", which had me considering "... go or are declared bankrupt", but your solution seems like a good option. Thanks D! |
| Also, I hadn't seen "Chapter 11, Title 11, United States Code" before, so thanks for that too :) |
+1
2 hrs
(US) file(s) for insolvency or Chapter 11 corporate bankruptcy
E&W corporate > pluralised; the Tenants or joint and several Obligors/Debtors are adjudged/adjudicated insolvent or present a voluntary (por iniciativa propia) or compulsory winding-up petition (de cualquier tercero) on the grounds of insolvency.
UK partnerships and companies strictly don't go bankrupt, but are dissolved (partnership) or wound up (co.) on the grounds of insolvency or because it is 'just and equitable'.
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Note added at 2 hrs (2012-10-28 17:47:11 GMT)
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por iniciativa propia: AE> voluntary proceedings; BE> voluntary petition
(o) de cualquier tercero: AE> involuntary proceedings; BE> compulsory petition.
UK partnerships and companies strictly don't go bankrupt, but are dissolved (partnership) or wound up (co.) on the grounds of insolvency or because it is 'just and equitable'.
--------------------------------------------------
Note added at 2 hrs (2012-10-28 17:47:11 GMT)
--------------------------------------------------
por iniciativa propia: AE> voluntary proceedings; BE> voluntary petition
(o) de cualquier tercero: AE> involuntary proceedings; BE> compulsory petition.
Peer comment(s):
| agree |
Ana Myriam Garro (X)
3 hrs
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Muchas gracias, linda!
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| neutral |
philgoddard
: You can't use "chapter 11", which is a US term. // It doesn't matter what the target readership is - if the Spanish meant "US chapter 11 bankruptcy", it would say something like "quiebra capitulo 11".
23 hrs
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You're an accountant and in the US - which is the target-readership according to the asker: 'It's for the US by the way'. Maybe you can explain if chapter 11 is wrong for a corp.
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| neutral |
DLyons
: Seems over-specific to me. But I could be wrong.
1 day 51 mins
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Discussion