Glossary entry

German term or phrase:

Verfügungsverbot

English translation:

prohibition on disposal; dealing restraint

Added to glossary by Adrian MM.
Jun 8, 2021 10:39
2 yrs ago
41 viewers *
German term

Verfügungsverbot

German to English Bus/Financial Finance (general)
A very easy term query made quite a bit harder to sort out by having to figure out what this actually refers to - you may wish 🙂 to remember no PRO translator may ever confirm a given translation based on extensive experience in a given area of expertise and sound expertise in that given area of expertise only unless they have figured out the actual connection both within the context at hand and to the textual background.

DE:

Zwischen ............................ (Name und Anschrift des Gesellschafters) und der Bank in Hamburg (nachstehend "Bank in Hamburg" genannt) wird folgende Darlehensbelassungs- und Rangrücktrittserklärung vereinbart:
I.
Der ....... (nachstehend „Gesellschafter“ genannt) ist Gesellschafter der (nachstehend „Firma“ genannt) und hat ihr gem. Darlehensvertrag vom .... Darlehen in Höhe von EUR gewährt.
Ihm stehen daraus Forderungen gegen die Firma in Höhe von EUR nebst Zinsen zu.
Die Forderungen gegen die Firma können sich noch erhöhen.
II.
Der Gesellschafter tritt als Gläubiger der Firma mit seinen oben genannten gegenwärtigen sowie mit seinen künftigen Forderungen und allen damit verbundenen Rechten, insbesondere aus weiteren Darlehensgewährungen, hinter alle bestehenden, künftigen und bedingten Ansprüche zurück, die der Bank in Hamburg aus dem Immobilienkreditvertrag Nr. …… vom ….. jeweils nebst Zinsen und aller sonstigen Nebenforderungen gegen die Firma zustehen, gleich welche Rechtsform die Firma jeweils hat und wer ihre Inhaber sind.
III.
Solange die Bank nicht voll befriedigt ist, verpflichtet sich der Gesellschafter den vorgenannten Betrag der Firma als Darlehen zu belassen, d. h. auch erforderlichenfalls zu prolongieren und über seine Forderungen gegen die Firma ohne vorherige Zustimmung der Bank in Hamburg nicht zu verfügen, insbesondere sie nicht einzuziehen oder freiwillige Rückzahlungen auf sie in irgendeiner Form, z. B. im Kreditwege, sei es in bar oder durch irgendwelche Leistungen entgegenzunehmen, nicht auf sie zu verzichten, sie nicht sicherstellen zu lassen, sie auch nicht an einen Dritten abzutreten, zu verpfänden, nicht im Wege der Aufrechnung über sie zu verfügen oder durch Wechselziehung zu mobilisieren und auch nicht mit diesen Forderungen hinter die Forderung eines anderen Gläubigers/Gesellschafters der Firma zurückzutreten.
Gleichzeitig versichert der Gesellschafter, dass er bisher keinerlei Verfügungen über diese Forderungen getroffen hat und diese auch nicht gepfändet wurden, sodass Rechte Dritter an diesen Forderungen nicht bestehen.
IV.
Der Gesellschafter hat mit der Firma vereinbart, dass seine Forderungen im Wege der Abtretung außer an die Bank in Hamburg nicht übertragbar sein sollen und dass auch im Verhältnis zur Firma das oben vereinbarte ***Verfügungsverbot*** gilt.
Change log

Jun 8, 2021 10:49: writeaway changed "Field" from "Law/Patents" to "Bus/Financial"

Jun 9, 2021 13:27: AllegroTrans changed "Level" from "Non-PRO" to "PRO"

Jun 9, 2021 19:48: Adrian MM. changed "Edited KOG entry" from "<a href="/profile/60654">Sebastian Witte's</a> old entry - "Verfügungsverbot"" to ""prohibition on disposal""

Votes to reclassify question as PRO/non-PRO:

PRO (3): Ulrike Kraemer, Steffen Walter, AllegroTrans

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Discussion

Susan Starling Jun 9, 2021:
Hamburg Bank - capitalize or not Since Hamburg Bank is a defined term ("...und der Bank in Hamburg (nachstehend "Bank in Hamburg" genannt)") it's correct to capitalize it of course. I imagine what made it sound like a general name was being incorrectly used as a proper noun was the use of the word "the", i.e. "except to the Hamburg Bank". Personally I'd remove the "the" for better clarity.
Susan Starling Jun 9, 2021:
Agree w/ "prohibition on disposal" in this context The quasi "official" translation of the Aussenwirtschaftsgesetz/Foreign Trade and Payments Act available at www.gesetze-im-internet.de translates "Verfuegungsverbot" as "prohibition on disposal". This is also the term used by the BMF for its translations (easily searchable at www.bundesfinanzministerium.de, just confirmed). I've done a lot of work in this field myself over the past few years and while I'm someone who's always skeptical of the "standard" translation and do a lot of research to make sure it's really the best option for whatever specific context, I did not find anything better than "prohibition on disposal" that would both accurately reflect the meaning and not be misunderstood. I absolutely agree with the OP too about Pro users coming in with set terms based on their experience that they throw into the mix without really looking at the current content. Happens all the time and just confuses things. ;) Anyway HTH!
Steffen Walter Jun 9, 2021:
No easy term at all ... ... given the context. Again, this is clearly a Pro question.
philgoddard Jun 8, 2021:
"Hamburg Bank" is wrong - your use of a capital B makes it sound like the name of a bank, but it just means a bank in Hamburg.
Sebastian Witte (asker) Jun 8, 2021:
See this last part of that English sentence does not even mean all that much to me: The Shareholder has agreed with the Company that his or her claims shall not be transferable by way of assignment, except to the Hamburg Bank, and that the ***prohibition on disposal*** agreed above also applies in relation to the Company. Or possibly, as per the further context, "The Shareholder has agreed with the Company that its claims shall not be transferable by way of assignment, except to the Hamburg Bank, and that the ***prohibition on disposal*** agreed above also applies in relation to the Company."

Proposed translations

1 day 4 hrs
Selected

restraint on dealings

either way, the preposition is restraint or prohibition on...

Query; dealing in is wider than disposing of and often works better in receivables or regd. land conveyancing *professional* practic/se.

über seine Forderungen gegen die Firma ohne vorherige Zustimmung der Bank in Hamburg nicht zu verfügen : to refrain from dealing in vs. disposing of his receivables...

dass er bisher keinerlei Verfügungen über diese Forderungen getroffen hat ... that he has heretofore made no dealings in or with vs. disposals of......
Example sentence:

IATE: de Verfügungsverbot Consilium en prohibition on disposals of property

DEALINGS WITH RECEIVABLES other than in favour of LND, sell, factor discount or otherwise dispose of or enter into any agreement under which it may be or become obliged to sell, factor, discount or dispose of any Receivable.

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4 KudoZ points awarded for this answer. Comment: "Thanks, also to Susan Starling."
3 hrs

prohibition of asset disposal

Actual insolvency proceedings or proceedings for the opening of insolvency proceedings qualify under this rule, the latter if the court imposes a general prohibition for the debtor to dispose of his assets (“allgemeines Verfügungsverbot”). https://books.google.com/books?id=fHBVBAAAQBAJ&pg=PA260&lpg=...
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