Suspension of liquidation means that in the process of liquidation, it is found that the company's assets are insolvent and it applies to the people's court for bankruptcy, which leads to the interruption of the procedure. Termination means that the liquidation procedure has been completed and the cancellation of registration has been handled according to law.
According to the provisions of the first paragraph of Article 183 of the Company Law, if the company is dissolved due to the provisions of Items (1), (2), (4) and (5) of Article 180 of this Law, a liquidation group shall be established within 15 days from the date when the reasons for dissolution appear, and liquidation shall be started.
Article 188 stipulates that after the liquidation of the company, the liquidation group shall prepare a liquidation report, submit it to the shareholders' meeting, the shareholders' meeting or the people's court for confirmation, and submit it to the company registration authority to apply for cancellation of company registration and announce the termination of the company.
Legal objectivity:
company law
Article 188
After the liquidation of the company, the liquidation group shall prepare a liquidation report, submit it to the shareholders' meeting, the shareholders' meeting or the people's court for confirmation, and submit it to the company registration authority to apply for cancellation of company registration and announce the termination of the company.