Vocabulary

to take urgent steps (measures) – принять срочные меры

otherwise – иначе, в противном случае

to go bust – вылететь в трубу, обанкротиться

to go into liquidation – подвергнуться ликвидации

voluntary – добровольный

compulsory – обязательный

to apply to the court [ko:t] – обращаться с просьбой, заявлением в суд

to run bankrupt – обанкротиться

to make a statement – сделать заявление

to list assets and liabilities – перечислить активы и задолженность

property – собственность; имущество

until mid-50s – до середины 50-х

to suffer losses – потерпеть убытки

to amount to a huge sum – составлять огромную сумму

to stretch a helping hand – протянуть руку помощи

to be in despair – быть в отчаянии

to bring an action against – возбудить судебное дело

to discharge – освобождать (от долга; заключенного)

to be imprisoned – быть заключенным в тюрьму

nervous strain – нервное напряжение

cell – камера

to commit suicide – совершить самоубийство

I. Give Russian equivalents to the following word combinations:

to go into liquidation; to pay all debts; to apply to the court; to run bankrupt; to make a full statement of the company's affairs; to be in despair; to discharge; to be imprisoned; cell; to commit suicide.

II. Give English equivalents to the following word combinations:

принять срочные меры; обанкротиться; перечислить активы и задолженность; собственность; потерпеть убытки; составлять огромную сумму; протянуть руку помощи; возбудить судебное дело; нервное напряжение.

III. Answer the following questions.

1. What did Mr. Rainbow's company deal with? 2. What happened to his company in mid-50s? 3. How did it come that Mr. Rainbow built up many debts? 4. What was the attitude to Mr. Rainbow on the part of his friends and acquaintances when he got into trouble? 5. Did the creditors bring an action against Mr. Rainbow? 6. What happened to Mr. Rainbow one day when he was in prison?

IV. Read and translate the following text with a dictionary.

How to avoid bankruptcy or liquidation

Business today is full of risk and opportunity. Many people need to plan, prepare and practice to create a successful business. The task is to minimize risks and make the most of opportunities. But many people entering the business world lack adequate training in such areas as leadership, communicating requirements and ideas, and working successfully as a member of a team. Employees must be skilled in allocating time, money and other resources needed to carry out a job. They are to be able to evaluate and use new information. They must understand how one task may effect the others. Finally, they have to be able to learn new skills and adapt to changing technology.

If you have a temporary cash flow problem, there are a number of ways you may follow without going bankrupt or into liquidation:

– raise some money from the bank. If the company that owes you money is secure (for example, a large prosperous company), a bank may be pre­pared to tide you over with a short term loan;

– sell some assets, for example, stock, or sell your premises and rent them back;

– you may be able to sell the business at a low price.