Notice of company closure

Legal analysis: During the period from 6 months before the court accepted the case to the date of bankruptcy declaration, some legal acts carried out by bankrupt enterprises were invalid, such as concealing, dividing up or transferring property for free, selling property at a low price, providing property guarantee for debts that have not yet matured, paying off debts in advance, giving up creditor's rights, etc. These are all invalid legal acts.

Legal basis: Provisions on Several Issues Concerning the Trial of Bankruptcy Cases of Enterprises Article 38 If a creditor or debtor has any objection to the bankruptcy declaration after the bankruptcy declaration, he may appeal to the people's court at the next higher level within 10 days from the date when the people's court declares the enterprise bankrupt. The people's court at the next higher level shall form a collegial panel to hear the case and make a ruling within 30 days.