| Pages in topic: < [1 2 3] | My Client Entered a Provisional Insolvency Proceedings Thread poster: Yasutomo Kanazawa
|
|---|
| 'Walking in the dark' | Apr 1 |
Yasutomo Kanazawa wrote:
I'm not sure if there is still business activity, since I had only one tiny job since they announced their insolvency. They just announced that they entered provisional insolvency proceedings and that's the only information up to this point.
I did some research on the Internet, and there are both people in the industry and writers from "Der Spiegel" breaking news that this company has entered insolvency. But both medias just state the fact about entering insolvency, and nothing else, such as if it is just a debt restructuring or the company is completely bankrupt. There is too little information to reach to a conclusion.
Based on the reactions in this topic, I would guess that many translators will not continue to work for them because they have not been informed about what is really going on.
At www.{company}.com/imprint, you can see the names of the executive directors and a general contact email address. In your place, I would tell them that I want to know how this happened, to see their recent results and the debt overview and to know how they intend to make the company viable as a condition for continuing your guaranteed work. I would also tell them that since they are leaving the translators in the dark while the administrator claims the company needs the translators to help, the company is shooting itself in the foot by not being transparent about the whole situation.
If they ignore you or give you a superficial answer, you may want to consider if you should just ignore them from now on and stop responding to job requests. Or maybe reply to any job requests that your request for information was declined, so you do not feel comfortable taking on more work.
| | | | Yasutomo Kanazawa 
Japan
Local time: 00:09
Member (2005)
English to Japanese
+ ...
TOPIC STARTER
Thomas T. Frost wrote: Yasutomo Kanazawa wrote:
Unfortunately, it still doesn't work. I tried double-clicking on it, and I even tried copying & pasting the link but I get the same error message I mentioned earlier.
Strange. I can email them if you reply to the email I have sent you. Try clearing the insolvenzbekanntmachungen.de cookies.
I just replied to your personal message via Proz.
Hopefully, it should be in your inbox already.
| | | |
Looking for more information about the company's situation, I didn't find anything new, but stumbled over this website: https://mhl.de/de/wissen/was-tun-bei-insolvenz-eines-kunden.php that gives very detailed general information and advice which you may find useful and helpful to know (in German).
HTH and good luck!
| | | |
Christel Zipfel wrote: Looking for more information about the company's situation, I didn't find anything new, but stumbled over this website: https://mhl.de/de/wissen/was-tun-bei-insolvenz-eines-kunden.php that gives very detailed general information and advice which you may find useful and helpful to know (in German). HTH and good luck!
It says (Chrome-translated to English): 'Business partners can still avoid bad debts under certain circumstances: If they have security interests in the rights or assets of their customers, they can exploit them.
Security interests are, for example retention of title to delivered goods'
This may be worth exploring. If the translations have not been paid, the translator probably still owns the copyright and could act against use of the translations by the insolvent company's partners.
[Edited at 2024-04-01 16:58 GMT]
| | |
|
|
|
Yasutomo Kanazawa
Japan
Local time: 00:09
Member (2005)
English to Japanese
+ ...
TOPIC STARTER
Christel Zipfel wrote: Looking for more information about the company's situation, I didn't find anything new, but stumbled over this website: https://mhl.de/de/wissen/was-tun-bei-insolvenz-eines-kunden.php that gives very detailed general information and advice which you may find useful and helpful to know (in German). HTH and good luck!
Thanks for the link, Christel.
This should shed more light on my present situation.
| | | | Yasutomo Kanazawa
Japan
Local time: 00:09
Member (2005)
English to Japanese
+ ...
TOPIC STARTER
Thomas T. Frost wrote: Christel Zipfel wrote: Looking for more information about the company's situation, I didn't find anything new, but stumbled over this website: https://mhl.de/de/wissen/was-tun-bei-insolvenz-eines-kunden.php that gives very detailed general information and advice which you may find useful and helpful to know (in German). HTH and good luck! It says (Chrome-translated to English): 'Business partners can still avoid bad debts under certain circumstances: If they have security interests in the rights or assets of their customers, they can exploit them. Security interests are, for example retention of title to delivered goods' This may be worth exploiting. If the translations have not been paid, the translator probably still owns the copyright and could act against use of the translations by the insolvent company's partners.
Yes, I was thinking about claiming my rights to the translations (actually MTPE jobs) which I delivered during the time of Feb. 1 ~ Feb. 26.
I've read many forums on Proz about people giving advice to people who were in a similar situation or people who had trouble getting paid from their clients. Luckily enough, I know the end client whom I worked for during the mentioned period, and if I could get in touch with them (they too should be aware that the company which they outsourced the job to has entered provisional insolvency), I guess it would be easier to explain to them that money hasn't been paid to the translators (I know that I'm not the only one. There are at least 10 translators involved, each in different language pairs), so I hope I wouldn't have to explain from the beginning.
| | | | | Right of separation | Apr 1 |
Yasutomo Kanazawa wrote:
Yes, I was thinking about claiming my rights to the translations (actually MTPE jobs) which I delivered during the time of Feb. 1 ~ Feb. 26.
I've read many forums on Proz about people giving advice to people who were in a similar situation or people who had trouble getting paid from their clients. Luckily enough, I know the end client whom I worked for during the mentioned period, and if I could get in touch with them (they too should be aware that the company which they outsourced the job to has entered provisional insolvency), I guess it would be easier to explain to them that money hasn't been paid to the translators (I know that I'm not the only one. There are at least 10 translators involved, each in different language pairs), so I hope I wouldn't have to explain from the beginning.
That is one avenue, but the interesting thing is that the article continues:
'These security interests grant business partners a so-called right of separation in the event of their customers' insolvency. This applies if the security interests have not already been exploited. The right of separation then means that the secured business partner receives the remaining proceeds from the realization of the security interest after deduction of the realization costs up to the amount of his claim against the customer.'
You would have to notify the administrator about this. But since this is getting quite legal, I also emailed you the contact details of an English-speaking German solicitor that has provided services to me in the past and who I trust. I think it would be a good idea to ask his opinion so you can do things right.
| | | | Jeff Whittaker
United States
Local time: 11:09
Spanish to English
+ ...
Tell them that you would certainly be willing to continue working with them, but that given recent developments, you would have to receive payment in full for past projects before excepting any new ones.
Then, once they've paid, it's up to you whether or not you wish to actually accept any further work from them and accept the possibility that you may not be paid and/or inform them (but only after you've been paid for past projects) that you want to be paid in advance moving forward... See more Tell them that you would certainly be willing to continue working with them, but that given recent developments, you would have to receive payment in full for past projects before excepting any new ones.
Then, once they've paid, it's up to you whether or not you wish to actually accept any further work from them and accept the possibility that you may not be paid and/or inform them (but only after you've been paid for past projects) that you want to be paid in advance moving forward.
[Edited at 2024-04-03 18:46 GMT] ▲ Collapse
| | |
|
|
|
| Not an option right now | Apr 3 |
Jeff Whittaker wrote:
Tell them that you would certainly be willing to continue working with them, but that given recent developments, you would have to receive payment in full for past projects before excepting any new ones.
The right to pay has been transferred to the administrator, and the company would be in breach of the court order if they started paying just like that. It's simply not a legal option, so it would be a pointless email.
The right of separation mentioned in the article Christel posted could potentially result in payment, though, but a request would have to be made to the administrator, which is why it's best to get some legal advice at this stage.
| | | | | Pages in topic: < [1 2 3] | To report site rules violations or get help, contact a site moderator: You can also contact site staff by submitting a support request » My Client Entered a Provisional Insolvency Proceedings | Protemos translation business management system | Create your account in minutes, and start working! 3-month trial for agencies, and free for freelancers!
The system lets you keep client/vendor database, with contacts and rates, manage projects and assign jobs to vendors, issue invoices, track payments, store and manage project files, generate business reports on turnover profit per client/manager etc.
More info » |
| | Anycount & Translation Office 3000 | Translation Office 3000
Translation Office 3000 is an advanced accounting tool for freelance translators and small agencies. TO3000 easily and seamlessly integrates with the business life of professional freelance translators.
More info » |
|
| | | | X Sign in to your ProZ.com account... | | | | | |
Login to reply/comment 
Translation news
