Glossary entry (derived from question below)
Italian term or phrase:
fondi rischi in privilegio
English translation:
provisions for preferential debt / claims
Added to glossary by
Juliet Halewood (X)
Aug 13, 2016 07:59
7 yrs ago
4 viewers *
Italian term
Juliet Halewood (X)
fondi rischi in privilegio
Italian to English
Law/Patents
Finance (general)
The Judicial Commissioner's Report regarding an insolvent company:
Procedimento di Concordato Preventivo in continuità
FONDI RISCHI. La ricorrente nel complesso ha accantonato dei fondi rischi in privilegio e in chirografo. Gli accantonamenti a fondi rischi in privilegio ammonta a euro 1.103.578, come sopra evidenziato. Nelle stesse voci sono stati inseriti fondi rischi in chirografo secondo lo schema che si riporta.
a table follows with the relative amounts:
Fondi rischi Privilegi Chirografi
Fondo contenzioso in essere 123 123
Fondo contenzioso generico 123
Fondo rischi generico
Totale accantonamenti in priv (a)
Totale accantonamenti chir. (b)
Totale generale accanton. a + b
Is there a precise term for this provision??
Thanks!
Procedimento di Concordato Preventivo in continuità
FONDI RISCHI. La ricorrente nel complesso ha accantonato dei fondi rischi in privilegio e in chirografo. Gli accantonamenti a fondi rischi in privilegio ammonta a euro 1.103.578, come sopra evidenziato. Nelle stesse voci sono stati inseriti fondi rischi in chirografo secondo lo schema che si riporta.
a table follows with the relative amounts:
Fondi rischi Privilegi Chirografi
Fondo contenzioso in essere 123 123
Fondo contenzioso generico 123
Fondo rischi generico
Totale accantonamenti in priv (a)
Totale accantonamenti chir. (b)
Totale generale accanton. a + b
Is there a precise term for this provision??
Thanks!
Proposed translations
(English)
| 4 +3 | provisions for preferential debt / claims |
James (Jim) Davis
|
| 2 -1 | appropriations - to funds at risk - in (terms or rank of) priority |
Adrian MM. (X)
|
Change log
Aug 13, 2016 12:17: writeaway changed "Field" from "Other" to "Law/Patents"
Proposed translations
+3
1 hr
James (Jim) Davis
Seychelles
Seychelles
Native in English
Specializes in field
Seychelles
25 years experience constantly improving
Native in: English (Variant: British) 
Works in: Italian to English
Related KudoZ points
:
4516
Selected
provisions for preferential debt / claims
The fondo here is a provision (a liability) recognised in the accounts to cover the risk of an expected loss. The loss here is the debt to be paid.
In IFRS a "fondo rischi" is just a "provision"
The standard translation (wrong in my opinion) is provision for risks and charges (fondo rischi e oneri). Often "enforced" by prrof readers of major auditors.
The UK version "provision for liabilities and charges"
However, '"risks or any addition" to "provisions for risks for preferential debt" is awkward or unnecessary. In US it would be an "accrued loss for preferential debt contingency" I believe.
http://www.iasplus.com/en-us/standards/ifrs-usgaap/contingen...
The "in privilegio" just means given preferential treatment. Provision to pay debt subject to preferential treatment which will meet the claims of the (higher ranking preferential) creditors.
In IFRS a "fondo rischi" is just a "provision"
The standard translation (wrong in my opinion) is provision for risks and charges (fondo rischi e oneri). Often "enforced" by prrof readers of major auditors.
The UK version "provision for liabilities and charges"
However, '"risks or any addition" to "provisions for risks for preferential debt" is awkward or unnecessary. In US it would be an "accrued loss for preferential debt contingency" I believe.
http://www.iasplus.com/en-us/standards/ifrs-usgaap/contingen...
The "in privilegio" just means given preferential treatment. Provision to pay debt subject to preferential treatment which will meet the claims of the (higher ranking preferential) creditors.
4 KudoZ points awarded for this answer.
Comment: "Thanks Jim, excellent explanation."
-1
1 hr
Italian term (edited):
accantonamenti - a fondi rischi - in privilegio
appropriations - to funds at risk - in (terms or rank of) priority
Excuse my Teach-Yourself Italian lingo level, but I read the 'privilege' not as a priority lien as the table goes on to rank the appropriations e.g. Privilegi Chirografi > unsecured priorities
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