To file for Chapter 11
A new loans
B assets of a company less its liabilities
D statutory framework
E to declare bankruptcy
p n93: ion on n9
Look at these counter-arguments to the standpoint presented in the article and
Decide whether you agree or disagree with them.
e 'In my opinion, court restructuring of an insolvent business can result in
Negative publicity. This could have a bad effect on the business by reducing
e 'As I see it, out-of-court restructuring is faster and cheaper, as it involves
less paperwork (official forms, schedules and procedures). I'm convinced
That the time and effort spent on court restructuring can be better spent on
rescuing the business:
To improve your web-based research skills, visit www.cambridge.orgjeltjlegalenglish.click on
Research Tasks and choose Task 14.
:1. Vocabulary: distinguisl)ing meaning Whichwordin each group is the odd one
out? Youmay need to consult a dictionaryto distingUishthe differences in
Priority favoured status
Possession of relinquish
Urgent onerous difficult
Legal regime judicial revieW statutory framework
2 Word formation Complete this tablebyfillinginthe abstract 1')0unformof each
Of the verbs. Underlinethe stressed syllable in each word with more than one
Vocabulary:classes of creditors Complete this text about classes of creditors
By choosing the correct verb in each case.
In every bankruptcy, there are generally three classes creditors. These
1) contain /(jj:clujj / consist secured or lien creditors, priority creditors, and
Unsecured or general creditors. Generally, if a secured creditor has
2) perfected / improved / submitted its lien prior to the bankruptcy filing,
secured creditor must be 3) entitled / paid / owed order for the debtor to
Keep his or her property after the bankruptcy is discharged. A secured creditor
Has security for its debt, which can be personal or real property that was
4) borrowed / pledged / attached by the debtor to secure the debt. Priority
Creditors have a priority for the repayment of their debt before the unsecured
Creditors are paid. Income taxes, wages, child support and administrative
expenses 5) collected / suspended / incurred in the bankruptcy are usually
Classified as priority creditors. Unsecured creditors are creditors who do not
Have any security. Some examples of unsecured debts are credit-card bills,
Medical bills and personal loans.
Verb i Abstract noun
Asking ql.lestions in al1int~rvieW DeGide wlJiclJsentence beginning (A or B)
Can be used to form questions that an applicantmigbt ask a job interview.
In some cases, botlJ sentence beginnings can be used to form a question.
A Can you tell me sometbing about ,..
B What is ...
1. "'. what you are looking for Tnan associate?
2 ... tlJe atmosphere in tbefirm.. like?
3 ... th.e management structL)re oftlJe firm?
4 ... how attorneys are trained your firm?
5 ... your most important clients?
6 ... tbe firm's attitude toward pro bono Workand communityservice?
7 ... a typical caseload of an associate like?
8 ... how assoGiatesare rotated tlJrough tlJe departments of tlJe firm?
9 ... your area of expertise?
Vocabulary: types of trustees Reading 3 mentions several different trustee
Date: 2015-12-11; view: 1119