Translation of "Insolvenzverfahren eingeleitet" in English

On 5 June 2002, the insolvency proceedings were opened by the court for both companies.

In November 2000 it entered a so-called "suspension of payments" procedure.

The same shall apply if insolvency proceedings are initiated against Supplier.

Insolvency proceedings are initiated if a business or a private individual is unable to pay debts.

In acute cases the firm may already have become insolvent or may be the subject of collective insolvency proceedings.

If the debtor fails to comply with the pre-bankruptcy settlement, bankruptcy will be initiated.

Initially, France indicated to the Commission that the three subsidiaries were under judicial reorganisation at the time of the takeover.

In particular, the tax office did not use its prerogative as a separate creditor whose receivables are secured and did not initiate a bankruptcy procedure, which would in all probability have led to a higher return.

In this context, they indicated that the measures taken were aimed at ensuring that its losses did not make share capital and reserves fall below the legal limit, thereby preventing insolvency proceedings (procedura concorsuale) and the placing of the company in liquidation.

On 5 July 2006 the company was formally declared bankrupt and liquidation proceedings (hereinafter referred to as ‘procedura fallimentare’ or ‘fallimento’) were opened [7].

We may also terminate the contract without providing any additional time in cases where the contractual partner lodges a petition for insolvency or if a file for bankruptcy owing to a lack of capital is rejected.

If the Customer does not meet his obligation to pay (e.g. if he does not cash in a cheque or bill of exchange) or if the Customer is in danger of insolvency or declared bankrupt, BAUER is entitled to accelerate maturity of the whole claim for payment immediately, disregarding the period of accepted bills of exchange.

In December 2001 the bankruptcy proceedings were started. Alain Prost had finally become a modern Chris-Amon-figure.

If a company group has insolvency proceedings under way in several member states, then the competent insolvency practitioners may conclude a looser formal (or informal) cooperation agreement.

So far, it has not been stated with sufficient claritythat an insolvency procedure must be initiated in such a case. Thus, the ESM treaty needs to be amended accordingly.

If after conclusion of the contract Semperit learns that the financial situation of the Customer has developed unfavourably or that insolvency proceedings have been initiated or have not been initiated for lack of assets or that proper fulfilment of the contract is not secured, Semperit may demand advance payment or collateral security equal to the value of the delivery.

As a result, progress has been made in improving insolvency law: half of the Member States have taken measures to reduce the discharge periods, remove restrictions or streamline bankruptcy proceedings (see Annex).

The FTA is bankruptcy-remote: (i)the FTA itself cannot go bankruptor be subject to insolvency proceedings and, (ii) in the case of insolvency of the originators, the FTAand the bondholders (the EIB)would not be affected because the FTA owns the receivables transferred.