TRADUguide - Your Guide to Translators and Translation Agencies

234 months ago

Karen Vincent-Jones   asked this question:

This question has already been answered and rated. Therefore, no new answers can be given.

234 months ago

   wrote:

is declared insolvent

My comment:

that is the phrase used in contracts

234 months ago

Claude Le Frapper   wrote:

is declared insolvent

My comment:

that is the phrase used in contracts

234 months ago

Vicki Santamaria   wrote:

up for bids; up for sale; on the auction block

My comment:

When a company goes bankrupt, it is often auctioned off to the highest bidder so that the companies the insolvent company owes money to will at least get some of their money back.

234 months ago

Luis Francisco Valle V.   wrote:

is declared bankrupt

My comment:

Sounds like a condition in a contract "if a company is declared bankrupt this will happen. It would help if we had more context, but "concurso mercantil" means a bankruptcy proceeding. So, in this case, I would use "is declared bankrupt". Hope it helps.

The asker rated this answer best

234 months ago

Luis Francisco Valle V.   wrote:

is undergoing insolvency proceedings

My comment:

The "es declarada" bothers me a bit... You might want to say, "is officially undergoing..." Without more context in the sentence it is difficult to be really sure about the best wording. Just to give you an idea, when a company is "en concurso", it means that it has begun the proceedings to be declared insolvent.

234 months ago

Brenda Elkja   wrote:

this company declared bankruptcy

234 months ago

Brenda Elkja   wrote:

is declared to be in mercantile concern bankruptcy proceedings

My references:

Robb's Diccionario de Terminos Legales, Espanol/Ingles

234 months ago

Brenda Elkja   wrote:

the company has been declared in a state of (corporate) collapse