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Embarque Offshore
una instancia administrativa
Nov 26, 2019 18:46
4 yrs ago
33 viewers *
Spanish term

preconcurso

Spanish to English Bus/Financial Business/Commerce (general) Spanish shareholders
Not sure if i have a lot of context, but here it is: Tras nacionalizar XXX en 2012, las autoridades argentinas obligaron a YYY renovar licencias por 117 millones. Fue un detonante del preconcurso.

From what I could find, preconcurso in Span is: Sigue siendo una figura desconocida pero puede ser muy valiosa para superar situaciones de crisis en la empresa… Lo que se conoce como preconcurso es un trámite que la Ley Concursal prevé para que la empresa en dificultades pueda negociar con sus acreedores.

so is it creditor's meeting? preliminary creditors' meeting? or something else. I don't see anyone going bankrupt in this article...
Proposed translations (English)
5 +1 grace period
4 pre-insolvency proceedings
3 voluntary scheme (of arrangement/US: Chapter 11) stage

Discussion

Reed James (asker) Nov 27, 2019:
no mention of bankruptcy I'm not sure anyone is insolvent here. It's mainly about who is going to head the group, the founding family or others...

Proposed translations

+1
18 mins
Selected

grace period

Comencemos por explicar lo fundamental: ¿Qué es un preconcurso de acreedores? En realidad, no más que una prórroga o periodo de gracia que la ley concede a las empresas que están a punto de entrar en concurso para que tengan una última oportunidad de reconducir su situación antes de la intervención judicial.

https://www.leanabogados.com/concursal/preconcurso-de-acreed...

Or extension
Peer comment(s):
agree neilmac : Sounds right to me, although am no expert in this area....
12 hrs
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4 KudoZ points awarded for this answer.
3 hrs

pre-insolvency proceedings

I think this gives a clear idea of what is being referred to.

A guide to pre-insolvency and insolvency proceedings across ...
https://www2.deloitte.com › global › pages › legal › articles › europe-insol...
The Deloitte Legal Guide to Pre-insolvency & Insolvency Proceedings details the functioning of European insolvency law, the objectives of harmonization at the ...
The Characterization of Pre-Insolvency Proceedings ... - SSRN
https://www.ssrn.com › ...
by I Mevorach - ‎2019
Sep 14, 2019 - This article argues, however, that we should be slow to exclude pre-insolvency proceedings from cross-border insolvency law: these ...
Mediation in pre-insolvency proceedings - Revista de Mediación
https://revistademediacion.com › articulos › mediation-in-pre-insolvency-p...
Mediation in pre-insolvency proceedings. Abridged version in English of the original. By Lorenzo Prats Albentosa; Published in Revista de Mediación Volume 7
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16 hrs

voluntary scheme (of arrangement/US: Chapter 11) stage

Not sure what the target-readership might be, but the USA/ Can. would be different to the UK and Oz/NZ - hence medium confidence level.

Next for a company in the UK would come the creditors' appointment of a 'Committee of Inspection' - that I didn't post as reportedly no sign of a corporate insolvency/ AmE-only corporate bankruptcy.

Corporate: Scheme/CVA > Company Voluntary Arrangement Personal: Deed of Arrangement | IVA > Individual Voluntary Arrangement.
Example sentence:

preconcurso: the first step in the concurso de acreedores

Reference:

http://glosbe.com/es/en/preconcurso%20de%20acreedores

http://https://uk.practicallaw.thomsonreuters.com/6-107-3974?originationContext=document&transitionType=DocumentItem&contextData=%28sc.Defau

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