Glossary entry

French term or phrase:

Actionnaires redevables de libération

English translation:

Shareholders liable for calls payable; [on a winding-up] contributories

Added to glossary by Adrian MM. (X)
Oct 31, 2015 12:47
8 yrs ago
4 viewers *
French term

Actionnaires redevables de libération

French to English Bus/Financial Accounting Belgian French financial accounting terminology
Account description in a set of Belgian French financial statements. Appears under the subheading "Unpaid capital"
within the "Share capital" section.

Still stumped after consulting several potential sources.
Change log

Oct 31, 2015 12:47: changed "Kudoz queue" from "In queue" to "Public"

Nov 1, 2015 03:53: Karen Zaragoza changed "Vetting" from "Needs Vetting" to "Vet OK"

Nov 1, 2015 18:17: Adrian MM. (X) Created KOG entry

Discussion

EvaVer (X) Nov 1, 2015:
Receivables from shareholders for unpaid capital. Libération = paying up subscribed shares. Don't know the English name.

Proposed translations

21 hrs
Selected

Shareholders liable for calls (on unpaid or partly paid shares); [on a winding-up] contributories

Take a look at: calls on company shares

and 'contributories' on a winding-up (pre-liquidation) and that cna in fact include *past* shareholders, plus 'holders of shares that are *fully* paid-up'




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Note added at 1 day5 hrs (2015-11-01 18:34:16 GMT) Post-grading
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1. As EvaVer comments in the discussion entry, these unpaid calls are 'amounts receivable from shareholders'.

2. Barbara M's unpaid (share) capital also looks at these (minority) shareholders from a different angle, but overlaps with your unpaid capital subheading.

3. 'It seems to me that shareholders would be liable for calls in the case of *un*called, unpaid capital, wouldn't they?' - yes. But the amount is being spelt out, and

4. if contributories also exist in FR-CAN, they would still be liable for the *uncalled* capital on a winding-up. In E&W, 'A' list contributories are existing shareholders. 'B' list contributories are past shareholders who may have already paid up their calls in full but can still be asked to cough up extra.

Example sentence:

f the company is in financial difficulty or needs capital to expand, the directors (or administrators in cases of financial difficulty) may conclude that it is in the best interests of the company to ‘call’ the unpaid nominal amounts on each share tha

As per Section 428 of the Companies Act, contributory means “Every person liable to contribute to the assets of the company in the event of its being wound up and includes holder of any shares which are fully paid-up.”

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4 KudoZ points awarded for this answer. Comment: "Thank you! What you're proposing does seem like a sensible candidate for this heading. Having said that, how would this be different from Non-called capital or Called, unpaid capital which are the two other subheadings for Unpaid capital in this set of statements? It seems to me that shareholders already would be liable for calls in the case of Called, unpaid capital, wouldn't they? I'm not quite sure I'm understanding the subtlety of why this type of entry would also be used."
2 days 18 hrs

Shareholders whose capital contributions are due

Self-explanatory, I think.
Or you could say "Capital contributions payable".
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Reference comments

1 day 50 mins
Reference:

Unpaid share capital

Unpaid share capital is where none of the monies due for an allotment of shares which have been issued has been paid.

It is quite common in smaller companies for the share capital to be unpaid and remain due to the company indefinitely.

There is no requirement, unless specified in the company's memorandum and articles of association, for share capital to be paid up.
http://www.completeformations.co.uk/companyfaqs/shareholders...
Note from asker:
Thank you for the added context information!
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