de requête en concordat

English translation: request for a composition with creditors

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:de requête en concordat
English translation:request for a composition with creditors
Entered by: Lara Barnett

20:28 Dec 3, 2020
French to English translations [PRO]
Bus/Financial - General / Conversation / Greetings / Letters / EEIG Internal Regulations
French term or phrase: de requête en concordat
My attempt: "Insolvency request"....?

Tout membre du Groupement cesse automatiquement d’en faire partie en cas d’incapacité, de décès, de changement de son actionnaire principal sans l’accord du Groupement, de cessation ou modification d’activité commerciale, de dissolution volontaire ou judiciaire, de requête en concordat, de règlement judiciaire ou de jugement de faillite et en général en cas d’ouverture à l’encontre d’un membre.....
Lara Barnett
United Kingdom
Local time: 01:23
request for a composition with creditors
Explanation:
What does composition with creditors mean?

Composition with Creditors A contract made by an insolvent or financially pressed debtor with two or more creditors in which the creditors agree to accept one specific partial payment of the total amount of their claims, which is to be divided pro rata among them in full satisfaction of their claims.

https://guichet.public.lu/fr/entreprises/sauvegarde-cessatio...
Selected response from:

Francois Boye
United States
Local time: 20:23
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3request for a composition with creditors
Francois Boye
3of a petition for a composition /or court-approved arrangement with creditors /
Adrian MM.


Discussion entries: 4





  

Answers


26 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
request for a composition with creditors


Explanation:
What does composition with creditors mean?

Composition with Creditors A contract made by an insolvent or financially pressed debtor with two or more creditors in which the creditors agree to accept one specific partial payment of the total amount of their claims, which is to be divided pro rata among them in full satisfaction of their claims.

https://guichet.public.lu/fr/entreprises/sauvegarde-cessatio...

Francois Boye
United States
Local time: 20:23
Does not meet criteria
Specializes in field
Native speaker of: Native in FrenchFrench
PRO pts in category: 41

Peer comments on this answer (and responses from the answerer)
agree  AllegroTrans: Yes, out-of-court ("extrajudicial") compositions with creditors are permissible in Belgium https://companies.bnpparibasfortis.be/en/article?n=which-pro...
1 hr
  -> Thanks!

agree  philgoddard
6 hrs
  -> Thanks!

agree  Mpoma: Bridge says you get the chocolate biscuit
10 hrs
  -> Thanks very much!
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46 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
of a petition for a composition /or court-approved arrangement with creditors /


Explanation:
General / Conversation / Greetings / Letters ?

The idea is in fact to forestall an insolvency.

AmE: motion for a Chapter ..... scheme.

concordat: composition or arrangement with creditors (approved by the court); treaty between a state and the Holy See (Bridge).

E&W: Tout membre du Groupement: *corporate* member applies for a court-ordered scheme of arrangement. Individual member: ... for an informal ('amiable') personal deed of arrangement.

Note that 'composition scheme' is a tax arrangement in India.



Example sentence(s):
  • IATE: [TRADE > marketing] COM fr demande du concordat requête en concordat en application for a composition
  • Small taxpayers can get rid of tedious formalities of GST and can pay the tax at fixed rate under composition scheme.

    Reference: http://iate.europa.eu/search/standard/result/1607028420660/1
    Reference: http://eng.proz.com/personal-glossaries/entry/13567711-conco...
Adrian MM.
Austria
Meets criteria
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: I somehow think (based on Lara's second question) this is referring to an out of court/"extrajudicial" request for a composition with creditors, as the follow-on (in her second question) deals with in-court insolvency proceedings
46 mins
  -> // It's not a demande // requête is an *ex parte* appl. to the ct. 'w/o notice' to the other side. An ex-colleague of mine was once rapped *for prof. neg.* on the knuckles over this omission www.larousse.fr/dictionnaires/francais/requête/68550
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