Tuesday, June 23, 2009

German Legal Term of the Day

"Quotenkonsolidierungsverfahren" = pro rata consolidation procedure.

This is a very specific phrase/word having to do with consolidation of interests in banking. (Here's an old report discussing different views on the subject . . . if you're really that interested, the mention of pro-rata is at the very end.) In some ways, like with some of the other words I've shared, it's no different than shoving an entire English phrase into a single word. But in other ways, it sums up the German approach in one ten-syllable shot.

Despite the fact that German attorneys have all these long words, they use American nicknames for corporate take-overs. And they like them because they make it sound cool; poison pill, saturday night special, white night, black night, green mail, squeeze-out, etc. They make long words, we try and sound like gangsters.

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