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oponentúra (and related words)

Glossary entry

Slovak term or phrase:

tunelovanie

English translation:

(illegal) asset stripping

Added to glossary by Gareth Norman (X)
Jul 8, 2003 23:38
21 yrs ago
Slovak term

tunelova

Slovak to English Bus/Financial
This is a specific term used for illegal transfer of assets from state owned companies to private ones.
Proposed translations (English)
5 +2 (illegal) asset stripping
5 to fraudulently strip assets
4 fraud
4 cannibalize a company

Proposed translations

+2
2 hrs
Selected

(illegal) asset stripping

Sorry, I simply couldn't think of a suitable verb. In addition, some types of 'tunelovanie' have also been carried out quite legally. Loopholes everywhere.
Peer comment(s):
neutral Martina Svehlova Jurikova : this is a noun, not a verb as it should be :-(
5 hrs
Come on, I did apologise for that, after all. Perhaps "to strip assets (illegally)" would be the best verb form, especially if you want to avoid splitting infinitives :-)
agree Elenacb : Yes, this sounds English and conveys the meaning well. In response to the comment above: Some languages use more nouns while other languages are 'languages of action'. The most important is, that the language you're translating into flows well.
7 hrs
I couldn't agree more. And thank you for standing up in my defence!
agree John Newton (X) : I;m afraid I've only just picked up this query. I agree with what's been said, but the usual translation of tunelovanie is "siphoning", i.e. the fraudulent siphoning of funds, i.e. embezzlement.
10 hrs
If the activity is illegal, then I think that 'embezzlement' is also fine (the translation, of course, not the crime...)
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4 KudoZ points awarded for this answer. Comment: "Thank you all for your help. I found "tunneling" in one article dealing with Slovak privatisation, but this definitely would not be understood by a foreigner without a sufficient explanation. I like asset stripping, this does not sound so official and I needed to use a little bit informal word. Thank you. "
30 mins

fraud

There is probably no term in English to explain it as it is quite a slang term. this on is the closest in my opinion.

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Note added at 2003-07-09 02:06:04 (GMT)
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another possible term coul be \"money drainage\"
Peer comment(s):
neutral Martina Svehlova Jurikova : this is a noun, not a verb as it should be :-(
7 hrs
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7 hrs

cannibalize a company

exists already, perhaps not having exactly the right connotation, but with an appendix: cannibalize and convert to cash ...
Something went wrong...
7 hrs

to fraudulently strip assets

Asset (equity) stripping is the encumbering of valuable assets, usually real property, to take the value out of the property so that little or nothing is left for creditors.

Tunelovanie:
fraudulent asset stripping

Tunelova:
to fraudulently strip assets

Reference:

http://www.offshorebusiness.com/KYC/Documents/nov9evergreenvssuretybank.pdf

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