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cross-payment

Spanish translation: compensación (pago recíproco)

17:25 Jun 24, 2023
English to Spanish translations [PRO]
Bus/Financial - Law (general)
English term or phrase: cross-payment
Hola a todos:
¿Puede alguien ayudarme con la traducción de "cross-payment"?
(pongo contexto)

Claims against the insolvent estate may be set off against debts to the said insolvent estate, should the requirements of Article 99 CIRE be met.
This arrangement allows insolvency creditors to set off their claim against debts owed to the insolvency estate, so that the reciprocal claims can be wiped out.
Thus, the creditor’s claim is recovered without their debt having to be paid to the estate, thereby avoiding the pool of concurrent creditors.
This is a means of facilitating payment and preventing cross-payment

Aparece en un documento sobre el procedimiento de insolvencia en Portugal

Muchas gracias
Pilar Bacaicoa
Spain
Local time: 10:08
Spanish translation:compensación (pago recíproco)
Explanation:
Compensación (pago recíproco)
también denominado "pago recíproco", abreviado, simplificado o automático. Evita entregas innecesarias de doble vía. Funciona como un "escudo procesal" porque puede "oponerse" ante una pretensión judicial y poner fin a la contienda.
Selected response from:

William Zamora
Mexico
Local time: 03:08
Grading comment
Muchas gracias
4 KudoZ points were awarded for this answer



Summary of answers provided
4compensación (pago recíproco)
William Zamora
3pago recíproco
Lisa Rosengard


  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
compensación (pago recíproco)


Explanation:
Compensación (pago recíproco)
también denominado "pago recíproco", abreviado, simplificado o automático. Evita entregas innecesarias de doble vía. Funciona como un "escudo procesal" porque puede "oponerse" ante una pretensión judicial y poner fin a la contienda.


    Reference: http://rvlj.com.ve/wp-content/uploads/2017/01/libro-Curso-de...
William Zamora
Mexico
Local time: 03:08
Native speaker of: Native in SpanishSpanish
PRO pts in category: 4
Grading comment
Muchas gracias
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1 day 3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
pago recíproco


Explanation:
Una compañía se encuentra endeudada. Mientras tanto, por otro lado, otra empresa está endeudada a la compañía. Los creditores pueden rebajar su reclamo a la compañía por cuenta del dinero endeudado a la misma compañía de la otra empresa. Unos pagos recíprocos pueden ser anulados.
Un reclamo de un creditor está compensado por tanto sin más pagos entrelazados entre otros creditores. Así los pagos son menos complicados.

https://www.lawinsider.com/dictionary/cross-payment
"There's an amount by which the aggregate present fair salable (sellable) value of all its assets and properties exceeds the amount of all debts and liabilities. This is compared with the amount of the aggregate present fair salable (sellable) value of all assets and other properties of all of the Loan Parties, exceeds the amount of all of the debts and liabilities of the Loan Parties."

Example sentence(s):
  • A company is found to have debt. Meanwhile, on the other side, another business is in debt to the company. Creditors can reduce their claim to the company on account of money owed to the same company from another.
  • Reciprocal claims can be cancelled out. A creditor's claim is recovered therefore without further cross payments among concurrent creditors. Payment becomes less complicated.

    https://www.lawinsider.com/dictionary/cross-payment
Lisa Rosengard
United Kingdom
Local time: 09:08
Native speaker of: English
PRO pts in category: 32
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