The process of bankruptcy reorganization:
1. Reorganization reasons for the bankruptcy of the company;
2. Creditors and debtors directly apply to the court for reorganization and start the reorganization procedure;
3. If the court examines the application for reorganization and finds that it meets the statutory requirements, it shall order the debtor to reorganize and make an announcement;
4. The court appoints the administrator;
5. The court informs the known creditors and announces the unknown creditors;
6. Creditors declare their creditor's rights to the administrator. After the administrator receives the creditor's rights declaration materials, he shall register and review the declared creditor's rights, prepare the creditor's rights table and submit it to the first creditors' meeting for verification.
Second, analysis
Bankruptcy reorganization is a newly introduced system in Enterprise Bankruptcy Law, which refers to the business reorganization and debt adjustment of enterprises that may or may have bankruptcy reasons but have the hope of maintaining value and regeneration with the participation of stakeholders under the auspices of the court and through the application of all stakeholders.
Third, the significance of bankruptcy reorganization?
Bankruptcy reorganization is a newly introduced system in the Enterprise Bankruptcy Law, which refers to a legal system that aims at enterprises that may or have appeared bankruptcy reasons but have the hope of maintaining value and regeneration, conducts business reorganization and debt adjustment under the auspices of the court and with the participation of interested parties, so as to help debtors get rid of financial difficulties and restore their operating ability. Bankruptcy reorganization system, as an important part of corporate bankruptcy system, has been adopted by most market economy countries.