CONCURRENCIA DEL PRESUPUESTO OBJETIVO

18:18 Jul 23, 2017
Spanish to English translations [PRO]
Law/Patents - Law (general)
Spanish term or phrase: CONCURRENCIA DEL PRESUPUESTO OBJETIVO
This is a clause heading in a legal document concerning a 'declaracion de concurso' or filing for bankruptcy. The subsequent paragraphs refer to articles of Bankruptcy Law and define in what circumstances you can file for bankruptcy.
The document is from Spain
Andrew Sharp
United Kingdom
Local time: 21:59

Summary of reference entries provided
Something like this?
AllegroTrans

Discussion entries: 3





  

Reference comments


3 hrs
Reference: Something like this?

Reference information:
I realise this is from the UK but maybe it helps in establishing the correct translation:

A creditor’s petition must be in respect of a debt that the debtor owes and the petitioner must be the person to whom the debt is owed [Note 1].

Two or more creditors can combine to petition.

A creditor’s petition may be presented to the court only if at the time of the presentation [Note 2]:

a. the amount of the debt (or aggregate of debts) is equal to or more than £750;

b. the debt, or each of the debts, is for a liquidated sum payable to the petitioner either immediately or at some certain future time, and is unsecured;

c. the debtor is either unable to pay the debt or appears to have no reasonable prospect of being able to pay; and

d. there is no outstanding application to set aside the statutory demand on which the petition is based.

The debt must still be outstanding at the date of the hearing [Note 3].


    https://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch37-48/chapter45/part9/part_9.htm
AllegroTrans
United Kingdom
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1656
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