The Hindu Editorial (A precedent) – Nov 19, 2019

by Pradeep Choudhary

Posted on 20-November-2019 12:08:49 PM    0 Comments    2404 view(s)

 The Hindu Editorial (A precedent) – Nov 19, 2019

1. precedent (noun) – model, exemplar, example, pattern; previous example/instance, prior instance.
2. bankruptcy (noun) – legal state of insolvency. An individual or organisation is declared bankrupt if a court judges that the party involved can no longer meet debt payments to creditors. it is defined as the outcome of a legal procedure.
3. landmark (noun) – turning point, milestone, watershed.
4. insolvency (noun) – a condition in which the financial difficulties of an individual or organisation are such it is unable to pay its debts.
5. clear the way for (phrase) – precede/lead to, pay the way for, set the scene for.
6. interpret (verb) – explain, resolve, make clear.
7. first off (phrase) – firstly, before anything else.
8. uphold (verb) – confirm, endorse/approve, vindicate/validate.
9. primacy (noun) – greater importance, priority, preference.
10. waterfall payment (noun) – a system to repay debts in which senior lenders (higher-tiered creditors) receive principal and interest payments from a debtor first, while subordinate lenders (lower-tiered creditors) receive principal and interest payment after the senior lenders have been paid.
11. collateral (noun) – something kept as security/assurance/surety (for repayment of a loan).
12. precedence (noun) – priority, superiority, primacy.
13. appropriate (verb) – secure, acquire, wrest/claim.
14. Committee of Creditor (CoC) (noun) – a group of people who represent a company’s creditors in a bankruptcy proceeding/insolvency resolution.
15. quicken (verb) – speed up, accelerate, step up.
16. sacrosanct (adjective) – inviolable, sacred, protected (a principle).
17. paucity (noun) – insufficiency, deficiency, shortage.
18. entrenched (adjective) – ingrained, established, embedded.
19. defaulter (noun) – a person who is (purposefully) not repaying banks/lenders’ debt on time for various reasons.
20. go-ahead (noun) – permission, consent, licence.
21. bolster (verb) – strengthen, support, reinforce/fortify.
22. write off (verb) – eliminate/remove/cancel a bad debt from the account/record.
23. rally (verb) – increase after a fall/decline.
24. (have) a long way to go (phrase) – need to do a lot or make progress before achieve something (aim/goal).
25. raise the bar (phrase) – fix/make the standards (higher) that others to meet.
26. adjudicate (verb) – judge, give a verdict on; decide, settle/resolve.
27. lock up (phrasal verb) – put money into an inaccessible place