Influence of bankruptcy reorganization on employees

Legal analysis: The impact of bankruptcy reorganization on employees is as follows: 1. Bankruptcy and reorganization of enterprises may cause employees to lose the opportunity to work in enterprises. 2. As a result, employees can't get their wages on time, and personal social insurance may not be paid in time because of the bankruptcy and reorganization of enterprises.

Main contents of bankruptcy reorganization procedure

1. Creditors and debtors directly submit reorganization applications to the court to start reorganization procedures;

2. The court shall review the application for reorganization and make an announcement if it meets the requirements;

3. The court appoints the administrator;

4. The court notifies the creditor;

5. The creditor declares the creditor's rights to the administrator. After the administrator receives the creditor's rights declaration materials, he will register and review the declared creditor's rights, prepare the creditor's rights table and submit it to the first creditors' meeting for verification;

6. Hold the first creditors' meeting within 15 days from the date of expiration of the creditor's rights declaration;

7. Submit the draft reorganization plan to the court and creditors' meeting within 6 months from the date of the court ruling;

8. The court shall convene a creditors' meeting within 30 days from the date of receiving the draft reorganization plan, and the creditors shall attend the meeting, discuss and vote in groups.

Legal basis: Article 113 of the Enterprise Bankruptcy Law of the People's Republic of China stipulates that the bankrupt property shall be paid off in the following order after paying off the bankruptcy expenses and beneficial debts first: (1) The wages, medical care, disability allowance and pension expenses owed by the bankrupt to employees shall be included in the basic old-age insurance and basic medical insurance expenses of employees' personal accounts, as well as the compensation that should be paid to employees according to laws and administrative regulations; (2) Social insurance premiums and taxes owed by the bankrupt other than those specified in the preceding paragraph; (3) Ordinary bankruptcy claims. If the bankruptcy property is insufficient to pay off the repayment requirements in the same order, it shall be distributed in proportion. The wages of directors, supervisors and senior managers of bankrupt enterprises shall be calculated according to the average wages of employees of the enterprise.