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wound up

Discussion in 'Legal Terminology' started by Bucanero, Feb 3, 2007.

  1. Bucanero Senior Member

    England
    Spain
    Is it possible for "wound up" to mean in this sentence: have a claim dismissed or lose a claim?

    I don't think it is referring to wound up in the sense of being injured because it would not make much sense in the whole context.

    "Where the assured has failed to satisfy a judgment and has been wound up, the unsatisfied creditor "steps into the shoes" of the assured and takes over whatever rights the assured has against the insurer".

    If it means to have the claim dismissed, would not it be a superfluous expression considering that just before it it is said that he "has failed to satisfy a judgment"?

    I'm struggling to understand the meaning of this article. Any help will be very appreciated.


     
    Last edited: Jan 5, 2015
  2. the boss Senior Member

    Mexico
    Mexico
    Creo que el supuesto se actualiza cuando el asegurado es lesionado o sufre algun tipo de lesión. Es decir: si no se lesiona, nada de lo demás pasa. Al parecer, la herida o lesión equivale en el contrato de seguro (pues me imagino que eso es) a la condición cumplida. Saludos.
     
    Last edited: Jan 5, 2015
  3. Olmos18 Senior Member

    USA
    To wind up=to finish. Good luck!
     
    Last edited: Jan 5, 2015
  4. Paya Junior Member

    Venezuela
    Spanish Venezuela
    Si el asegurado es una empresa, wound up significaría "liquidada". Entonces traduciría "en caso de que el asegurado no haya cumplido con el fallo y haya sido objeto de liquidación, el acreedor no satisfecho..."
     
  5. RADIRO

    RADIRO Senior Member

    I do agree with Paya. Her translation is excellent.
    Wound up (pp of To wind up) means to bring to an end by taking care of unfinished business removing liabilities and distributing any remaining assets to partners or shareholders after paying every creditor (=liquidar).
     
    Last edited: Jan 5, 2015
  6. Bucanero Senior Member

    England
    Spain
    But I don't think in this case has that meaning? As you could notice the sentence is referring to subrogation in the context of insurance.
    I don't think there is any requirement as to the liquidation of the business before that subrogation can happen.

    Unfortunately it seems this translation needs of some insurance skills in addition to language skills. If I manage to clarify my ideas I'll post my suggestion, but I'm still feeling that the meaning of the sentence is a different one.

    Thank you.
     
    Last edited: Jan 5, 2015
  7. Logophilus

    Logophilus Senior Member

    Texas
    English
    I have insurance background but I do not recognize the term "wound up." Looks British to me...and even if it is it shouldn't be in a formal document...I'm sure an Englishman, perhaps a banker, could tell you exactly what that means.

    Sorry...
    -Logo
     
  8. RADIRO

    RADIRO Senior Member

    After reading Logophilus and last Bucanero posts, I think that you can translate wound up as "ejecutado", instead of liquidado/a.
     
    Last edited: Jan 5, 2015
  9. terepere Senior Member

    Spanish, Spain
    "Where the assured has failed to satisfy a judgment and has been wound up, the unsatisfied creditor "steps into the shoes" of the assured and takes over whatever rights the assured has against the insurer".
    Hola a todos, estoy con Radiro y Paya en cuanto al significado. Y sería más explícita y pondría "si el asegurado (...) y sus bienes han sido ya ejecutados".

    Bucanero, a mí me parece claro que en el contexto hay un asegurado que no puede pagar a un acreedor (porque sus bienes han sido ya ejecutados/liquidados en un proceso de quiebra). La única manera que tiene el acreedor de cobrar su deuda es ponerse en lugar del acreedor-asegurado respecto a la aseguradora. ¿Lo ves? Yo no te puedo pagar porque no tengo bienes, pero te paso todos mis derechos en un contrato de seguro que tengo contratado.

    ¡Suerte!



     
    Last edited: Jan 5, 2015
  10. mariodavidpalacio New Member

    Español - Colombia
    Gracias a todos. Aprendí un término más en el contexto financiero.

    wind up = liquidar o ejecutar

    wound-up company = compañía liquidada
     
    Last edited: Jan 5, 2015

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