bancarotta semplice

English translation: reckless bankruptcy

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:bancarotta semplice
English translation:reckless bankruptcy
Entered by: Judith McLean

10:59 Dec 17, 2009
Italian to English translations [PRO]
Bus/Financial - Business/Commerce (general)
Italian term or phrase: bancarotta semplice
Does anyone know of a specific term for this in English? I understand that it's bankruptcy due to negligence rather than with fraudulent intent however I don't know if 'bankruptcy due to negligence' really incorporates the fact that it is a criminal offence.
Any suggestions?
Thanks
Judith McLean
United Kingdom
Local time: 23:19
reckless bankruptcy
Explanation:
An offence against property in which a person in the course of his professional duties,through recklessness,excessive expenditure,hazardous speculation or gross negligence,causes his own insolvency or in the knowledge of his own insolvency prejudices his financial situation after bankrupcy proceedings have been commenced against him or a certificate of unsatisfied claims has been issued in his respect.
Selected response from:

nisorann
Italy
Local time: 00:19
Grading comment
Thanks. I've chosen this one as it seems to fit the definition in Italian of bancarotta semplice.
4 KudoZ points were awarded for this answer



Summary of answers provided
4straight bankruptcy
claudiocambon
4insolvency due to negligent management or management with undue care
Alison Kennedy
4reckless bankruptcy
nisorann
4involuntary bankruptcy
Barbara Toffolon (X)


  

Answers


5 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
straight bankruptcy


Explanation:
as opposed to fraudulent bankruptcy, as per Codeluppi

claudiocambon
United States
Local time: 16:19
Works in field
Native speaker of: Native in ItalianItalian, Native in EnglishEnglish
PRO pts in category: 32
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13 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
insolvency due to negligent management or management with undue care


Explanation:
The other insolvency is "fraudulent or criminal insolvency".

please note that legal entities are insolvent while natural perons are bankrupt.

Alison



Alison Kennedy
Italy
Local time: 00:19
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 234
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17 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
reckless bankruptcy


Explanation:
An offence against property in which a person in the course of his professional duties,through recklessness,excessive expenditure,hazardous speculation or gross negligence,causes his own insolvency or in the knowledge of his own insolvency prejudices his financial situation after bankrupcy proceedings have been commenced against him or a certificate of unsatisfied claims has been issued in his respect.


    Reference: http://iate.europa.eu/iatediff/FindTermsByLilId.do?lilId=180...
    Reference: http://www.websters-dictionary-online.org/definition/english...
nisorann
Italy
Local time: 00:19
Native speaker of: Italian
PRO pts in category: 4
Grading comment
Thanks. I've chosen this one as it seems to fit the definition in Italian of bancarotta semplice.
Login to enter a peer comment (or grade)

21 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
involuntary bankruptcy


Explanation:
Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).

La bancarotta è un reato connesso con il fallimento; essa può essere semplice (cagionata da imprudenza) o fraudolenta (frode diretta ad aggravare l'insolvenza e a violare le legittime aspettative dei creditori). Il nome deriva proprio dal fatto che, anticamente, ai falliti veniva rotto il banco.



    Reference: http://en.wikipedia.org/wiki/Bankruptcy
Barbara Toffolon (X)
Italy
Local time: 00:19
Native speaker of: English
PRO pts in category: 41
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