Wegmaking van activa

English translation: spiriting /syphoning / of assets out of Belgium

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Dutch term or phrase:Wegmaking van activa
English translation:spiriting /syphoning / of assets out of Belgium
Entered by: John O'Brien

08:32 Oct 29, 2020
Dutch to English translations [PRO]
Law/Patents - Law (general) / Debt enforcement
Dutch term or phrase: Wegmaking van activa
This is court decision on the attachment of assets.

In a list of exhibits, one exibit is "E-mails betreffende poging tot wegmaking van activa uit Belgie";

Is this simply removal or maybe even embezzlement of assets.

All help apprciated.
Thank you
John O'Brien
Local time: 02:06
spiriting /syphoning / of assets out of Belgium
Explanation:
I agree with the asker's suggestion of 'removal'. Query: whether spiriting vs. siphon / syphon out of the country works in the USA, and not only for Southern Comfort.

Compare and contrast Wegschaffung von Aktiva in DEU and note that the text goes on to read out of Belgium.

Perhaps dissipation of assets - cf. IATE's misappropriation and concealment might have worked but for the geographical allusion.
Selected response from:

Adrian MM.
Austria
Grading comment
Thanks Adrian
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +3make assets disapper/obfuscate/conceal
Marijke Singer
4concealment of assets
Cillie Swart
3disposal of assets
Michael Beijer
3spiriting /syphoning / of assets out of Belgium
Adrian MM.
Summary of reference entries provided
refs
Michael Beijer

  

Answers


11 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +3
make assets disapper/obfuscate/conceal


Explanation:
I think they mean that the assets do not appear on the books.
Seehttps://www.accountingtoday.com/news/unveiling-the-mystery-o...
"We identified over 250 fictitious entities used to purchase properties and ultimately obfuscate assets from the trustee. Profits from the sale of the properties were concealed under the guise of substitute purchasers and also through hundreds of fictitious bank, brokerage and other accounts. "

Marijke Singer
Spain
Local time: 02:06
Works in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 68

Peer comments on this answer (and responses from the answerer)
agree  Michael Beijer: I think you're probably right! (disapper > disappear :-)
28 mins
  -> Thanks Michael (also for the correction!).

agree  writeaway: This is a really hot topic here and is in the papers/news all the time. Authorities are constantly going after people trying to hide their assets to avoid paying tax.
1 hr
  -> Thanks, writeaway!

agree  Tina Vonhof (X)
6 hrs
  -> Thanks, Tina!
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8 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
wegmaking van activa
disposal of assets


Explanation:
see:

"The disposal of assets involves eliminating assets from the accounting records. This is needed to completely remove all traces of an asset from the balance sheet (known as derecognition). An asset disposal may require the recording of a gain or loss on the transaction in the reporting period when the disposal occurs."

(https://www.accountingtools.com/articles/how-do-i-record-the... )

--------------------------------------------------
Note added at 10 mins (2020-10-29 08:43:54 GMT)
--------------------------------------------------

"ADVANCED BOOKKEEPING
KAPLAN PUBLISHING
Disposal of capital assets
Introduction

When a capital asset or non-current asset is disposed of there are a
variety of accounting calculations and entries that need to be made.

Firstly, the asset being disposed of must be removed from the accounting
records as it is no longer controlled. In most cases the asset will be
disposed of for either more or less than its carrying value leading to a
profit or a loss on disposal which must be accounted for.

Finally, the fact that the asset has been disposed of must be recorded in
the non-current asset register.

In most examinations you will be required to put through the accounting
entries for the disposal of a capital asset (i.e. a non-current asset) and to
record the disposal in the non-current asset register."

(https://kaplan.co.uk/docs/default-source/pdfs/study-options-... )

--------------------------------------------------
Note added at 12 mins (2020-10-29 08:45:34 GMT)
--------------------------------------------------

#########################
Juridisch-Economisch Lexicon (JurLex):
wegmaking =
being disposed of
#########################

Michael Beijer
United Kingdom
Local time: 01:06
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 189

Peer comments on this answer (and responses from the answerer)
neutral  Marijke Singer: My issue with this is that disposal of assets is legal while wegmaking implies an illegal activity. They added 'poging' in Dutch. In other words, it failed. It may be completely innocent, but why then a court case.
6 mins
  -> Very good point.
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23 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
concealment of assets


Explanation:
Concealment of Belgian assets.


    https://www.linguee.com/english-dutch/search?source=auto&query=Wegmaking
Cillie Swart
South Africa
Local time: 03:06
Specializes in field
Native speaker of: Native in EnglishEnglish
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1 day 2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Wegmaking van activa uit Belgie
spiriting /syphoning / of assets out of Belgium


Explanation:
I agree with the asker's suggestion of 'removal'. Query: whether spiriting vs. siphon / syphon out of the country works in the USA, and not only for Southern Comfort.

Compare and contrast Wegschaffung von Aktiva in DEU and note that the text goes on to read out of Belgium.

Perhaps dissipation of assets - cf. IATE's misappropriation and concealment might have worked but for the geographical allusion.

Example sentence(s):
  • verduistering COM verdonkering COM wegmaking COM en misappropriation COM

    Reference: http://iate.europa.eu/search/standard/result/1604057062188/1
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 32
Grading comment
Thanks Adrian
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Reference comments


7 mins
Reference: refs

Reference information:
Juridisch-Economisch Lexicon (JurLex):
wegmaking =
being disposed of

Michael Beijer
United Kingdom
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 189
Login to enter a peer comment (or grade)



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