insolvency administrator
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insolvency administrator
A person appointed by a court who, in the event of insolvency, manages, secures, and realizes the assets of a company or private individual in order to satisfy creditors' claims as well as possible.
Der Insolvenzverwalter prüft, ob Teile des zahlungsunfähigen Unternehmens noch gerettet werden können.
The insolvency administrator is checking whether parts of the insolvent company can still be saved.
The word is made up of three parts: 'Insolvenz' (insolvency), the verb 'verwalten' (to manage), and the ending '-er' for a person. So it is literally a person who manages an insolvency.
Ein guter Verwalter kümmert sich um die Finanzen des Hauses.
A good administrator takes care of the building's finances.
An insolvency administrator is 'bestellt' (appointed) or 'eingesetzt' (assigned) by the court. Their task is then to 'sichern' (secure) the assets, 'prüfen' (examine) the situation, and 'entscheiden' (decide) on the company's future.
Für die insolvente Firma wurde ein erfahrener Insolvenzverwalter bestellt.
An experienced insolvency administrator was appointed for the insolvent company.
This word belongs to the technical language of law and business. You mainly hear or read it in the news, in newspaper articles, or in business contexts.
Der Bericht des Insolvenzverwalters wird nächste Woche erwartet.
The insolvency administrator's report is expected next week.
administrator
'der Verwalter' and 'der Insolvenzverwalter' both have to do with administration and responsibility for someone else's assets. A Verwalter is a general word: for example, he can look after a building, money, or an organization. An Insolvenzverwalter is much more specific. He is appointed by a court when a person or company is insolvent. He then secures and realizes the assets. The words can be confused because 'Insolvenzverwalter' contains the word 'Verwalter'. In practical terms: every insolvency administrator is a type of administrator, but not every administrator has to do with insolvency.
Nach der Pleite prüft der Insolvenzverwalter die Konten der Firma.
After the bankruptcy, the insolvency administrator checks the company's accounts.
Die Mieter schicken die Nebenkostenabrechnung an den Verwalter.
The tenants send the service charge statement to the building manager.