Bankrupt enterprises have no money to pay their debts. What does it mean for the court to decide to terminate the execution?

After the judgment of the court, the enterprise shall be declared bankrupt, and if the judgment is still useful, the debts shall be paid off according to the judgment. In the liquidation of bankrupt enterprises, if there is a court decision, priority can be given to compensation. Moreover, bankruptcy is decided by the court, and creditors can't go bankrupt if they object. The court will declare bankruptcy only after reconciliation with the debtor, and will not be liable for repayment after bankruptcy.

According to Article 10 of the Enterprise Bankruptcy Law of the People's Republic of China. Where a creditor applies for bankruptcy, the people's court shall notify the debtor within five days from the date of accepting the application. If the debtor has any objection to the application, it shall submit it to the people's court within seven days from the date of receiving the notice from the people's court. The people's court shall decide whether to accept the objection within ten days from the date of expiration.

Extended data:

Enterprise Bankruptcy Law of the People's Republic of China

Article 1 This Law is formulated for the purpose of standardizing the bankruptcy procedures of enterprises, clearing up the creditor's rights and debts fairly, protecting the legitimate rights and interests of creditors and debtors, and maintaining the order of the socialist market economy.

Article 2 If an enterprise as a legal person is unable to pay off its due debts, its assets are insufficient to pay off all its debts or it obviously lacks solvency, it shall clear up its debts in accordance with the provisions of this Law.

An enterprise as a legal person may be reorganized in accordance with the provisions of this law if it has the circumstances specified in the preceding paragraph or obviously loses its solvency.

Article 3 Bankruptcy cases shall be under the jurisdiction of the people's court of the debtor's domicile.

Article 4 The relevant provisions of the Civil Procedure Law shall apply to the trial procedures of bankruptcy cases that are not provided for in this Law.

Article 5 Bankruptcy proceedings initiated in accordance with this Law shall have effect on the debtor's property outside the territory of People's Republic of China (PRC).

A legally effective judgment or ruling of a bankruptcy case made by a foreign court involves the debtor's property within the territory of People's Republic of China (PRC) and applies to the people's court for recognition and enforcement.

Baidu Encyclopedia-Enterprise Bankruptcy Law of the People's Republic of China