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.
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