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  3. Finance (general)

disponibilité

English translation: discretion; independence

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:disponibilité
English translation:discretion; independence
Entered by: Wolf Draeger

13:22 Nov 16, 2019
French to English translations [PRO]
Bus/Financial - Finance (general)
French term or phrase: disponibilité
Analysis by French auditors of the demise over several years of a French company in a multinational group centred in the US. The US management appear to have used the by-now classic technique of interest rate shenanigans: the French company which used to be profitable and "master of its own destiny", and even lent money to other companies in the group, became hobbled and increasingly nobbled by interest payments following successive restructuring operations.
The various decisions to borrow, and dispose of assets, on rubbish terms by the management of the French company are the ones characterised below as "actes anormaux de gestion".

"Disponibilité et liberté d'action
La note d'[Auditor] évoque les questions que pourrait soulever l'administration fiscale française pour caractériser un acte anormal de gestion, notamment :
La société XXX aura-t-elle la même disponibilité et liberté d'action dont elle disposait dans la gestion de sa trésorerie ou de ses créances à court terme, après avoir apporté ses actifs à YYY ?
Quelle est la garantie que YYY pourra payer les dividendes à XXX ou rembourser sa dette en capital à XXX ?"

...

"La perte de substance subie par XXX en 2015 du fait de la restructuration du groupe, réalisée à des fins d'optimisation fiscale pour le compte des sociétés américaines du groupe, ressort ainsi a minima à ZZZ k€.
La société XXX a en effet perdu la disponibilité et la liberté d'action dont elle disposait dans la gestion de sa trésorerie et de ses créances après avoir apporté ses actifs à YYY."

"Availability" doesn't seem right to me. I considered whether it might refer to the fact of possessing "disponibilités"... but somehow I have doubts about this too...
Mpoma
United Kingdom
Local time: 06:04
discretion [reword sentence]
Explanation:
It looks to me like the actual term in question is the full disponibilité et liberté d'action which has nothing to do with liquidity or cash (properly spelt in the plural: disponibilités).

See CNRTL link below for when disponibilité means something along the lines of using one's own discretion, of being able and willing to make one's own decisions:

Possibilité, pour une personne sans engagement ni obligation, de jouir d'une totale liberté de mouvement, d'action.

Situation intellectuelle de celui qui est disponible, qui n'est pas limité par des choix antérieurs. Disponibilité de l'esprit, de la pensée; état de disponibilité

You'll probably have to rework the sentence to get the proper meaning across.
Selected response from:

Wolf Draeger
South Africa
Local time: 07:04
Grading comment
Thanks, came round to this view in the end.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +4liquidity
Marco Solinas
4 +1discretion [reword sentence]
Wolf Draeger
4cash and cash equivalents
Marcombes (X)
3control (over its assets)
Gordon Matthews


Discussion entries: 1





  

Answers


24 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +4
liquidity


Explanation:
Or "liquid assets". See Record 6 of http://www.btb.termiumplus.gc.ca/tpv2alpha/alpha-eng.html?la...

Marco Solinas
Local time: 22:04
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in ItalianItalian
PRO pts in category: 87
Notes to answerer
Asker: Haha, yes of course, thanks - it's probably just be as simple as that. What made me think it was something else what that the author speaks of "... la même disponibilité et liberté d'action dont elle disposait dans la gestion de sa trésorerie...": so I was wondering about the concept of "disponibilité dans la gestion...". But it's probably just slightly loose drafting.


Peer comments on this answer (and responses from the answerer)
agree  philgoddard
1 hr
agree  Timothy Rake
8 hrs
agree  Daryo: simply "disponibilité " = the amount of money available / à disposition
18 hrs
agree  Celine Nguyen Van Tung
3 days 3 hrs
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18 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
cash and cash equivalents


Explanation:
I already found this term in financial balances.

Marcombes (X)
France
Local time: 07:04
Works in field
Native speaker of: Native in FrenchFrench
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22 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
control (over its assets)


Explanation:
My immediate thought was "availability". I think in this case, it is about the company being able to avail itself of its own assets, i.e. having control of its assets.

Gordon Matthews
Germany
Local time: 07:04
Native speaker of: Native in EnglishEnglish
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1 day 40 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
discretion [reword sentence]


Explanation:
It looks to me like the actual term in question is the full disponibilité et liberté d'action which has nothing to do with liquidity or cash (properly spelt in the plural: disponibilités).

See CNRTL link below for when disponibilité means something along the lines of using one's own discretion, of being able and willing to make one's own decisions:

Possibilité, pour une personne sans engagement ni obligation, de jouir d'une totale liberté de mouvement, d'action.

Situation intellectuelle de celui qui est disponible, qui n'est pas limité par des choix antérieurs. Disponibilité de l'esprit, de la pensée; état de disponibilité

You'll probably have to rework the sentence to get the proper meaning across.

Example sentence(s):
  • Will XXX be able to manage its cash and short-term receivables with the same discretion and freedom as before once it contributes its assets to YYY?
  • XXX is in fact no longer able to manage its cash and short-term receivables with the same discretion and freedom it had before contributing its assets to YYY.

    Reference: http://www.cnrtl.fr/definition/disponibilit%C3%A9
Wolf Draeger
South Africa
Local time: 07:04
Works in field
Native speaker of: English
PRO pts in category: 18
Grading comment
Thanks, came round to this view in the end.
Notes to answerer
Asker: Thanks, glad someone else has doubts about disponibilité = liquidity. My feeling was merely an intuition; now you've given me something to chew on.


Peer comments on this answer (and responses from the answerer)
agree  Ph_B (X): I was actually preparing a discussion comment along these lines.
4 mins
  -> Ta! Great minds & all that :-)
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