Ex.9. Write the appropriate word or phrase in the following spaces. Translate the sentences into Ukrainian

Ex.7. Look at the words and phrases in the box. Match them with the correct definition from the list below.

1. the state of being unable to pay your debts;

2. a person or an organization that you owe money to;

3. the person appointed by the court to close a company and dispose of its assets;

4. to become bankrupt;

5. to save someone or something from prison, danger, etc.

6. the closing of a company that has stopped trading, usually because it has gone bankrupt;

7. a bankruptcy procedure initiated by an individual or business that can no longer meet its financial obligations;

8. a bankruptcy procedure initiated by creditors.

Ex.8. Find words in the text which have a similar meaning to the informal words and phrases listed below:

s go under;

s go to the wall;

s crash;

s fold;

s collapse.

1. The firm I work for is facing ….

2. Several local companies have gone ….

3. The owner of the small business became … during the recession.

4. The company has gone bankrupt and can’t pay its ….

5. One of the company directors was appointed ….

6. The company has decided to take ….

7. It will take years … all his debts.

8. His company is … bankruptcy.

9. Small businesses in Great Britain are currently … at a rate of one every six minutes.

10. Their business is so unsuccessful. I think they are considering ….

	going bust, on the verge of, to pay off, voluntary liquidation (2), liquidator, creditors, insolvent, bankrupt, bankruptcy.

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