Test yourself

Read the text below. Type the correct form of the ten words CAPITALISED. TA S5

Insolvency proceedings in the UK are legal mechanisms used to resolve financial difficulties faced by individuals and businesses that are ABILITY (1 p.) to pay their debts as they fall due. There are two main types of insolvency proceedings in the UK - liquidation and ADMINISTER (1 p.) . In liquidation, a company's assets are sold and the PROCEED (1 p.) are used to pay off its debts. In administration, an ADMINISTER (1 p.) is appointed to manage the company's affairs and try to turn its fortunes around. The UK has a well-established legal FRAME (1 p.) for insolvency proceedings, governed PRIME (1 p.) by the SOLVENT (1 p.) Act 1986. The process can be complex and involve various STAKE (1 p.) , including creditors, shareholders, and employees. The aim of insolvency proceedings is to protect the interests of all (party) involved and to achieve the best possible outcome in the circumstances, whether that be by STRUCTURE (1 p.) the business, selling assets, or WOUND (1 p.) up the company.