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  3. Finance (general)

derechos reales de prenda de primero, segundo y posteriores rangos

English translation: fixed charges ranking in first, second and subsequent priorities

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:derechos reales de prenda de primero, segundo y posteriores rangos
English translation:fixed charges ranking in first, second and subsequent priorities
Entered by: Adrian MM.

05:03 Feb 18, 2020
Spanish to English translations [PRO]
Bus/Financial - Finance (general) / Spanish/Catalán financing agreement
Spanish term or phrase: derechos reales de prenda de primero, segundo y posteriores rangos
Still working on this special power of attorney for the financing agreement...

Now it's the description of "prendas" that I'd like to have more information about.

Here's the context:

Otorgar, modificar, ampliar, sustituir o cancelar cualesquiera documentos de garantía en relación con la Financiación Adicional y/o la Cobertura Adicional (incluídos, sin limitación, derechos reales de prenda de primero, segundo y posteriores rangos sobre cuentas bancarias, derechos reales de prenda de primero, segundo y posteriores rangos sobre acciones de la sociedad XXXX...

Hopefully that's enough context. I'm proofreading a document, and I'm wondering if her/his option is legitimate: "first, second and subsequent ranges of pledge rights on bank accounts/share of the company..." Research is showing me phrases like "first priority pledge", "first priority ranking pledge".

Suggestions? As always, a thousand thanks!
Julie Thompson
United States
Local time: 15:52
(BrE fixed) charges (AmE) security interests ranking first, second and subsequently in priority
Explanation:
over stocks / shares in the company / corporation...

Pledges do not generally 'rank in priority')

No time to dwell on this one, but bank accounts can perfectly well be assigned = charged in E&W or 'liened' (?) in the USA.

I will leave others to work 'security interests' or liens into the equation.
Selected response from:

Adrian MM.
Austria
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +2(BrE fixed) charges (AmE) security interests ranking first, second and subsequently in priority
Adrian MM.
4lien rights of first, seciond and followíng line
Vittorio Ferretti
4first, second and subsequent ranks of lien rights
Paola Alem


  

Answers


2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
lien rights of first, seciond and followíng line


Explanation:
..

Vittorio Ferretti
Local time: 21:52
Works in field
Native speaker of: Native in GermanGerman
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4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
(BrE fixed) charges (AmE) security interests ranking first, second and subsequently in priority


Explanation:
over stocks / shares in the company / corporation...

Pledges do not generally 'rank in priority')

No time to dwell on this one, but bank accounts can perfectly well be assigned = charged in E&W or 'liened' (?) in the USA.

I will leave others to work 'security interests' or liens into the equation.

Example sentence(s):
  • The simplest way to answer these questions is to imagine creditor ranking as a ladder. Secured creditors have a legal right or charge over property.

    Reference: http://www.proz.com/kudoz/spanish-to-english/law-contracts/4...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 143
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  AllegroTrans: Could prefix with "real estate" as this appears to relate to land
4 hrs
  -> Thanks, AT. // A fixed vs. floating charge, as you will know, covers fixed assets including real estate = land & buildings (the latter included in the definition of land in E&W law) as well as plant & machinery.
agree  Robert Carter: Yes, I disagree with Chris too. "Derecho real" is a security interest in real OR personal property ("in rem"); whereas "derecho personal" is a security interest against a specific person ("in personam").
1 day 6 hrs
  -> Thanks, Robert, That's why I feel fixed vs. floating charge covers the scenario.
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
first, second and subsequent ranks of lien rights


Explanation:
I would choose "lien" in this case.
https://iedunote.com/bank-lien-pledge

Paola Alem
Italy
Local time: 21:52
Specializes in field
Native speaker of: Italian
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