créance en direct

English translation: holding .... directly against

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

French term or phrase:	disposant .... en direct sur
English translation:	holding .... directly against
Entered by:	Adrian MM.

12:38 Nov 18, 2019

French to English translations [PRO]
Bus/Financial - Finance (general)

French term or phrase: créance en direct

XXX was a company in an international group which was doing well, but following restructuring found itself in an increasingly precarious situation, forced to borrow money from other companies in the group, whereas before it was lending them money.

"Or, d'une situation de prêteuse du groupe avant 2009, disposant de créances liquides et exigibles et en direct sur des sociétés du groupe, bénéficiant de ce fait d'une rémunération au titre des intérêts de ces prêts, la société XXX s'est trouvée à compter de 2010 dans une situation pérenne d'emprunteuse vis-à-vis du groupe, supportant de ce fait la charge d'une rémunération au titre des intérêts servis aux prêteurs."

I've done quite a bit of searching on "direct claim". "créance en direct" crops up as a French expression, but I'm not sure there is a direct read-across to "direct claim". You also find the French expression "créance directe", for example.

Why does the author here not merely say "disposant de créances liquides et exigibles et directes"? To me "en direct" has connotations either of "live" (as in "TV en direct") or possibly of "going straight to it".

Simple recherche de midi à quatorze heures ?

Mpoma KudoZ activity Questions: 1026 (3 open) (91 closed without grading) Answers: 384 United Kingdom
Local time: 11:19

holding .... directly against

Explanation:
sur des sociétés du groupe > against group companies.

My parsing (do not sub-parse that word) is that en direct acts adverbially for directement after disposant and does not agree with the créances that would, by that token, mean a direct e.g. transfer-pricing (UK accountants will hopefully understand) claim that would bypass the 'masse' (liquidator) on any insolvency.

NB author or *authoress*.

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Note added at 1 hr (2019-11-18 13:56:52 GMT)
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https://brattlefiles.blob.core.windows.net/files/7748_the_im...

Selected response from:

Adrian MM.
Austria

Grading comment

Thanks, think this is the gist.
4 KudoZ points were awarded for this answer

Summary of answers provided

4 +2

[liquid and payable] direct claim

Eliza Hall

holding .... directly against

Adrian MM.

direct receivables

SafeTex

Discussion entries: 2

Answers

1 hr confidence:

disposant ..... en direct sur

holding .... directly against

Adrian MM.
Austria
Specializes in field
Native speaker of:

English
PRO pts in category: 81

Grading comment

Thanks, think this is the gist.

Notes to answerer

Asker: I think I understand. Has the merit that it explains why the analysts (authors) might mention it at all... ("et en direct" does appear to draw attention to a significant point)...

1 hr confidence:

peer agreement (net): +2

[liquid and payable] direct claim

Explanation:
"disposant de créances liquides et exigibles et en direct sur X" = "holding liquid and payable direct claims against X."

As for why it's "en direct," I think it's a stylistic choice made to avoid adding an adjective after the set phrase "créances liquides et exigibles." It sounds clunky and wrong to say "liquides et exigibles et directes," and since "créance liquide et exigible" is a set phrase, it would also sound wrong to change it into something stylistically smoother ("liquides, exigibles et directes").

So they needed another way to say it. "En direct" is one way to say directly, and it's used in the business and finance context:

"Couvrant ses clients dans près de 200 pays à travers le monde, en direct ou via des partenaires, Coface offre un service hautement personnalisé s’adaptant au profil du débiteur." https://www.coface.fr/Actualites-Publications/Actualites/Rec...

Eliza Hall
United States
Local time: 06:19
Works in field
Native speaker of: English
PRO pts in category: 12

11 hrs confidence:

direct receivables

Explanation:
Hello

This is a financial question, not a legal one, so I would use "receivables" and not "direct claim against someone" which is about indemnifying someone (see: https://www.lawinsider.com/dictionary/direct-claim)

Direct probably means there is no agent etc. involved

https://www.investopedia.com/terms/r/receivables.asp

SafeTex
France
Local time: 12:19
Works in field
Native speaker of:

English
PRO pts in category: 40

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English translation: holding .... directly against

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