18:05 Aug 21, 2017 |
Italian to English translations [PRO] Bus/Financial - Business/Commerce (general) / Business Plan | |||||||
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| Selected response from: James (Jim) Davis Seychelles Local time: 12:55 | ||||||
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Discussion entries: 3 | |
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voluntary early arrangement with creditors Explanation: This is really a colloquial the term used for concordato preventivo con riserva. The concordato preventivo is where you go to court to file for bankrupty and come to an arrangement with creditors with a view to keeping the company afloat. That is the "preventivo" part. The "in bianco" part is taking advantage of a special provision in Italian law where you do this very early and have a time limit (90 days) within which you can change the terms of the application like having a blank form you can fill in later "in bianco". The problem with translating this is that every country has its own bankruptcy laws that are different, so the translation must attempt a very brief explanation as I have done. |
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concordato in bianco, which allows the firms to postpone the presentation of their recovery plan Explanation: I found this very brief and, IMO, efficient explanation in a Banca d'Italia article explaining the “concordato preventivo” Perhaps it can be incorporated/adapted in your sentence. https://www.bancaditalia.it/pubblicazioni/qef/2016-0316/inde... This is the original article where it clearly explains what ‘in bianco’ refers to: La disciplina delle crisi reversibili è stata poi oggetto di ulteriori modifiche (Decreto Legge 83/2012), con l’introduzione del concordato preventivo con riserva (cosiddetto “in bianco”). La riforma, introdotta a settembre del 2012, consente di presentare una domanda di concordato senza presentare il piano (appunto, “in bianco”), ma beneficiando immediatamente della sospensione delle azioni esecutive da parte dei creditori, e concede fino a 120 giorni (prorogabili fino a 180) per presentare il piano. https://www.bancaditalia.it/pubblicazioni/qef/2016-0316/QEF_... |
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