What is the process of bankruptcy of a joint stock limited company?

Bankruptcy procedure of a joint stock limited company:

1. Establish a liquidation group and put it on record;

2. Make a balance sheet and a list of assets on the date of liquidation;

3, for national tax and local tax payment certificate;

4. Three months after the expiration of the liquidation announcement, make the balance sheet and property list at the end of liquidation;

5. Formulate the liquidation distribution plan;

6. The liquidation group shall prepare a liquidation report, a statement of income and expenditure during liquidation and various financial account books, and submit them to the shareholders' meeting for confirmation.

legal ground

Article 183 of People's Republic of China (PRC) Company Law

Where the company is dissolved due to the provisions of Item (1), Item (2), Item (4) and Item (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 to start liquidation. The liquidation group of a limited liability company is composed of shareholders, and the liquidation group of a joint stock limited company is composed of directors or personnel determined by the shareholders' meeting. If a liquidation group is not established for liquidation within the time limit, the creditor may apply to the people's court to appoint relevant personnel to form a liquidation group for liquidation. The people's court shall accept the application and promptly organize a liquidation group to carry out liquidation.