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Complete the sentences with the words given below. If you want to challenge yourself, do not look at the list and try to come up with the words on you own.
compulsory; realise; debenture; insolvent; holder; proceeds; concern; petition; debt; bailout;
1.
(1 p.)
is a document that is executed in favour of a creditor with a covenant to pay the creditor and which grants security over the whole or substantially the whole of a company's assets.
2.
(1 p.)
of a debenture may appoint an administrator or administrative receiver with wide powers to run the company's business and
(1 p.)
its assets.
3.
(1 p.)
from the event will go to aid the work of the charity.
4.
A state-owned company is in a tough financial situation and is struggling to pay its
(1 p.)
. The government gives the company a
(1 p.)
and guarantees all payments to its creditors. The state-owned company is a going
(1 p.)
despite its poor financial position.
5.
The winding-up
(1 p.)
is the legal notice that the creditors file with the courts requesting that they have a hearing to establish whether the debtor company is
(1 p.)
. It can be said to start the
(1 p.)
liquidation process.
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