Entreicherung
English translation: disenrichment
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| 17:06 Jul 29, 2006 |
| German to English translations [PRO] Bus/Financial - Law: Taxation & Customs | |||||||
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|  Selected response from: Bernhard Sulzer United States Local time: 11:33 | ||||||
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| Summary of answers provided | ||||
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| 4 +1 | disenrichment |
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| 3 | withdrawal of funds |
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| 3 | transfer of value (out of the company) |
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| 2 | financial loss |
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Answers
6 hrs confidence: 
financial loss Explanation: Based on google contexts. |
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11 hrs confidence:
withdrawal of funds Explanation: I look at this as "fehlenden Bereicherung" or simply as ...aufgrund der Entreicherung...... (or) withdrawl of funds for financing purchases that may lead to a critical financial situation |
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1 day 18 hrs confidence:
transfer of value (out of the company) Explanation: this refers to an ongoing debate, especially in Switzerland I think, about whether certain types of acquisition/MBO financing familiar in the Anglo-Saxon financial world are permissible, in particular, whether financing arrangements which use the assets or future earnings of the target comapny to finance the purchase price can be considered to be removing/transferring/stripping value from the target company, amounting to a partial liquidation, and should therefore be regarded as taxable transfers of value in the hands of the vendor, provided he can be shown to have agreed to/known about the arrangement ('Mitwirkung'). The examples on page 4 of the first link show what is meant. the problem is that we don't really have the same concept in the UK/US systems. There is much talk of whether the 'Substanz' of the company has been reduced, but we market-oriented types don't talk about an intrinsic or basic value or 'substance' of a company: a company is worth what it is worth The closest terminology we have might be that of 'asset-stripping', but firstly we are talking about much more broadly defined transfers of value here which will usually not involve any transfers of specific assets or amounts of funds out of the company, and secondly the actual practice of asset-stripping per se is not illegal or covert: it simply involves buying assets cheaply and selling them off to amke a profit. 'transfer of value' is the best I can think of, but it's not quite right because it's rather neutral and there is an element of 'despoliation' or 'unfair removal of value' in the German. The Swiss use 'appauvrissement' in French but there's no way 'impoverishment' can be used in English. You could perhaps say 'removal of value' if the context permits, otherwise 'out of the company' might be enough to add the desired element of detriment to the company: "Even if active participation/collaboration (on the part of the vendor) were assumed, the transaction would (still) not amount to an indirect partial liquidation because of the absence of a transfer of value out of the company". sorry to go on at such length, but there's a lot of background to this kind of stuff... http://www.economiesuisse.ch/d/content.cfm?upid=33388662-F50... 'Diese so genannte „Entreicherung“ des Unternehmens muss zudem unter Mitwirkung des Verkäufers geschehen.' http://www.economiesuisse.ch/d/webexplorer.cfm?ms_sid=572&dd... 'De plus, cet « appauvrissement » de la société doit avoir lieu avec la participation active du vendeur.' http://www.economiesuisse.ch/f/webexplorer.cfm?ms_sid=429&dd... 'there is only a transfer of value from other parties to the new shareholders' http://www.feb.ugent.be/fac/research/WP/Papers/wp_05_290.pdf 'The transfer of value from one set of owners to another is an area of considerable specialisation' http://www.ibisassoc.co.uk/exit_planning.htm 'ownership changes in the 80’s and 90’s that did nothing so well as remove value from the company, for the benefit of private equity partnerships' http://jeffmatthewsisnotmakingthisup.blogspot.com/2005/05/da... |
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11 hrs confidence: peer agreement (net): +1
peer agreement (net): +1disenrichment Explanation: Term in English and American law. Disenrichment describes for example a case where somebody cannot be forced to pay back $ 100.00 because she/he was convinced to legally own the money, but has already used it up (= process of disenrichment) and has no other money left. Partial disenrichment is also possible when the person still has, for example, $ 20.00 left. They might have to pay back the $ 20.00. This can also be related to any other type of asset. A defense based on disenrichment is also called a "change of position" defense. Reference: http://en.wikipedia.org/wiki/Unjust_enrichment Other references below. Good Luck, Bernhard -------------------------------------------------- Note added at 1 day19 hrs (2006-07-31 12:32:28 GMT) -------------------------------------------------- example cases for disenrichment, liquidation and tax payments: http://law.wustl.edu/Organizations/SBA/upperlevel/Federal In... Reference: http://66.218.69.11/search/cache?p=disenrichment+example&ei=... Reference: http://www.dbilink.de/Bereicherungsrecht.html |
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