09:24 Nov 19, 2015 |
Romanian to English translations [PRO] Bus/Financial - Accounting | |||||||
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Summary of answers provided | ||||
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4 | cause of preference |
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3 | basis of priority |
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basis of priority Explanation: ... of the (unsecured) debt Cauza in Romance languages can often mean: consideration, namely as a quid pro quo in return. Reference: http://legeaz.net/noul-cod-civil/art-2327-cauzele-de-preferi... |
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cause of preference Explanation: http://jolas.ro/wp-content/uploads/2014/12/jolas2a2.pdf -------------------------------------------------- Note added at 5 ore (2015-11-19 14:56:21 GMT) -------------------------------------------------- If the creditors rank equally, the price is distributed proportionately to their claims, unless some of them have a legal cause of preference. https://www.uncitral.org/pdf/english/colloquia/3rdSecTrans/R... In view of these statutes, such an allowance seems clearly an unauthorized invasion of the rights of the general creditors in and to the property of their debtor, in favor of another creditor who has no lawful cause of preference; that is, no privilege or mortgage, quoad such allowance. http://law.justia.com/cases/federal/district-courts/F2/21/43... The indebtedness being created by the Bonds ranks after these bank borrowings. In addition, the Bonds would also rank after any future debts which may be secured by a cause of preference such as a pledge, mortgage, privilege and/or a hypothec. http://6pmsolutions.com/content/profiles/6PM-SUMMARY-NOTE-20... |
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