This site uses cookies. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. For more information, please see the ProZ.com privacy policy.
Cookie settings
Knees bend in recovery
Come 7pm
Apr 11, 2019 02:27
5 yrs ago
19 viewers *
English term

retired

Non-PRO English Bus/Financial Finance (general)
Context:

"Companies are often used for a short period of time before being retired".
Responses
3 +2 wound-up or placed into liquidation
3 +2 Stop using
4 -1 removed
2 retirement of a security or retirement of a debt

Discussion

Hoang Yen (asker) Apr 12, 2019:
First of all, thank all of you for your help and I'm sorry for not clarifying the context enough. Yes, the source text is about shell companies which are established for the purpose of illicit financial activities. Maybe the following gives the better context:

"North Korea-related financial representatives use and deposit funds through seemingly unrelated companies that share the same address.
Companies are often used for a short period of time before being retired.
However, associated bank accounts may stay open during lengthy periods of inactivity."

Should I translate it as "shutdown the company"?

Responses

+2
7 hrs
Selected

wound-up or placed into liquidation

Sounds like a company being set up for a specific puropose and then closed down (i.e. placed into voluntary liquidation) when its purpose has been fulfilled.

Peer comment(s):
agree Yvonne Gallagher
47 mins
Thanks Yvonne
agree Tina Vonhof (X)
5 hrs
Thanks Tina
neutral Daryo : not necessarily - you could also simply leave the company "dormant" ... as long the company is no longer "operational/trading" you could say it was "retired".
11 hrs
Yes a second possibility
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Selected automatically based on peer agreement."
8 mins

retirement of a security or retirement of a debt

. The act or process of causing a security to cease to exist.
Example sentence:

Another context in which you might hear the term is the "retirement of debt," which means debt has been paid off.

Reference:

https://financial-dictionary.thefreedictionary.com/retire

https://www.investopedia.com/terms/r/retirementofsecurities.asp

Peer comment(s):
agree writeaway : explanation is clear, so are the refs
6 hrs
neutral AllegroTrans : I see nothing about a security or a debt, only a company and anyway asker seems to need specific help with "retired"
7 hrs
neutral Yvonne Gallagher : with AT
8 hrs
disagree Daryo : Context = some kind of luxury? As far as I can see the ST is about "retiring" a company // listing all possible meanings is pointless - the point is to find the meaning in this text.
19 hrs
Something went wrong...
+2
1 hr

Stop using

Without context there is no way to tell for sure, but this looks like it could be talking about the use of shell companies. Whoever is using these shell companies for whatever purpose won't use them for very long because they would become traceable.
Peer comment(s):
agree Daryo : that's the key point! Send the company (possibly a real/genuine one) to "retirement" IOW stop using it to conduct business - either by terminating it or by "sending it into hibernation" by turning it into a "dormant company".
18 hrs
agree Zibow Retailleau
1 day 2 hrs
Something went wrong...
-1
6 hrs

removed

retirement
Removal of an asset, equipment, property, or resource from service after its useful life, or following its sale.

http://www.businessdictionary.com/definition/retirement.html
Peer comment(s):
neutral AllegroTrans : removed to where? where does one remove a company to?
52 mins
neutral Yvonne Gallagher : really? removed to where?
1 hr
disagree Daryo : Is there some special scrapyard for "retired companies"?
12 hrs
Something went wrong...
Close search
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search