1. The consequences of the company being sued for defaulting on payment are as follows:
(1) The court will seal up and freeze the property of the person subjected to execution according to law;
(two) the parties will be included in the list of untrustworthy persons, affecting the daily life of the person subjected to execution;
(3) If the circumstances are serious, he may be suspected of refusing to perform the judgment or written order and shall bear criminal responsibility.
2. Legal basis: Article 255 of the Civil Procedure Law of People's Republic of China (PRC).
If the person subjected to execution fails to perform the obligations specified in legal documents and conceals property, the people's court has the right to issue a search warrant to search the person subjected to execution, his residence or the concealed property.
Take the measures mentioned in the preceding paragraph, and the dean will issue a search warrant.
Article 256
Property or tickets designated for delivery in legal documents shall be delivered by the executor himself, or handed over by the executor and signed by the consignee.
If the relevant unit holds property or tickets, it shall transfer them according to the notice of assistance in execution of the people's court, and the consignee shall sign for them.
If the citizens concerned hold property or tickets, the people's court shall notify them to surrender them. Those who refuse to hand it over shall be enforced.
Second, what should I do if the company defaults on payment and does not contribute?
The company's unpaid debts are handled as follows:
1. The amount that the company still owes after no capital contribution is still repaid according to the original debt;
2. Under the subscription system, shareholders' capital contribution obligations are only postponed, not exempted permanently. When there is a major change in the company's operation, the creditors may require the shareholders to make capital contributions to pay off the company's debts.