1. How to apply for bankruptcy to the court
The debtor needs to provide the following evidence materials when applying: The debtor should also submit to the people's court: description of property status, list of debts, list of claims, and relevant financial matters Accounting reports, employee placement plans, employee wages and social insurance premium payment status.
Creditors need to submit a bankruptcy application and the basis for their claims.
_ _In the circumstances specified in Article 7 of the Enterprise Bankruptcy Law and Article 2 of this Law, the debtor may apply to the People's Court for reorganization, reconciliation or bankruptcy liquidation.
_ _ If the debtor cannot pay off its due debts, the creditor may apply to the People's Court for reorganization or bankruptcy liquidation of the debtor.
_ _ If an enterprise legal person has been dissolved but has not been liquidated or has not been liquidated and its assets are insufficient to pay off its debts, the person who bears the liability for liquidation in accordance with the law shall apply to the People's Court for bankruptcy liquidation.
Two. Accept
After submitting evidence and filing an application in accordance with the provisions of the preceding paragraph, the People's Court will decide whether to accept the application within 15 days; and serve it on the applicant within 5 days; the ruling can be appealed within 10 days;
< p>3. After acceptanceAfter the ruling is accepted; notify known creditors within 25 days; and designate an administrator at the same time as announcement and acceptance;
Relevant personnel of the debtor (directors , supervisors and senior managers) shall bear the following obligations:
(1) Properly keep the property, seals, account books, documents and other materials they possess and manage;
(2) According to the requirements of the People's Court and the administrator, answer the inquiries truthfully;
(3) Attend the creditors' meeting and answer the creditors' inquiries truthfully;
(4) Without the permission of the People's Court, no Leave the residence.
(5) No new directors, supervisors and senior managers of other enterprises are allowed;
Legal relationships involving the debtor’s property:
Accept bankruptcy applications in the People’s Court Within the previous year, the administrator has the right to request the people's court to cancel the following actions involving the debtor's property.
Transfer property for free;
Conduct transactions at obviously unreasonable prices;
(3) Provide property guarantee for debts without property guarantee;
d. Pay off undue debts in advance;
e. Give up creditor's rights.
Fourth, after the manager takes over,
the administrator exercises the right to retrieve the debtor's property and begins to declare claims: declare claims within 30 days to 3 months from the date of acceptance of the bankruptcy announcement , labor claims do not need to be declared and are prepared by the administrator. If it is overdue, it can be supplemented before the bankruptcy property is distributed, but the corresponding expenses must be borne, and the bankruptcy property cannot be distributed without declaration; the administrator shall register the claims during the reporting period for review by interested parties; and report the following actions to the creditors committee :
Involving the transfer of real estate rights and interests such as land and houses; the transfer of exploration rights, mining rights, intellectual property rights and other property rights; the transfer of all inventory or business; borrowing; setting up property security; the transfer of claims and securities; Performance of contracts that have not yet been fully performed by the debtor and the other party; waiver of rights; retrieval of collateral; other property disposal behaviors that have a significant impact on the interests of creditors.
Verb (abbreviation of verb) establishment of creditors’ meeting and creditors’ committee
(The creditors’ meeting shall have a chairman, who shall be appointed by the court among the creditors, without priority.)
Regulations on convening meetings: The meeting shall be held within 15 days after the expiration of the debt declaration period.
The creditors' meeting decides on the following matters:
Inspect creditor's rights; apply to the People's Court to change the administrator, review the administrator's fees and remuneration; supervise; elect and replace members of the creditors' committee; decide on the debtor Continue to operate or cease operations, and adopt a reorganization plan; pass a settlement agreement; adopt a management plan for the debtor's property; adopt a revaluation plan for the bankruptcy property; adopt a distribution plan for the bankruptcy property;
Intransitive verb possible Reorganization and Reconciliation Procedures
Generally, when a debtor voluntarily files for bankruptcy, there is no possibility of reorganization. A common reorganization situation is that when a creditor applies for the debtor's bankruptcy, in order to avoid being declared bankrupt, the debtor or an investor whose capital contribution accounts for more than one-tenth of the debtor's registered capital can apply to the People's Court for reorganization.
Reconciliation procedure: After the court accepts the bankruptcy procedure and before bankruptcy is declared, the debtor can submit a reconciliation application to the court for reconciliation. If the People's Court believes that there is a possibility of reconciliation, it shall rule to accept the application, and shall announce and notify creditors to vote on the draft settlement agreement. More than half of the voting creditors attending the creditors' meeting agree that the amount of the claims they represent accounts for more than two-thirds of the total unsecured claims. After the settlement agreement is passed, the administrator delivers the property and business to the debtor and executes the settlement agreement, and the debtor declares bankruptcy.
Seven. Declaration of bankruptcy
The bankruptcy declaration shall be delivered to the debtor and administrator within five days from the date of the ruling, and shall be notified and announced to known creditors within ten days from the date of the ruling; the administrator shall promptly draft a bankruptcy plan The property revaluation plan shall be submitted to the creditors' meeting for discussion; after approval or court ruling, it shall be changed or discounted in a timely manner. The administrator shall promptly prepare a bankruptcy property distribution plan and submit it to the creditors' meeting for discussion. After the creditors' meeting passes the bankruptcy property distribution plan, the administrator shall submit the plan to the people's court for approval.
After the bankruptcy property distribution plan is approved by the people's court, it will be executed by the administrator.
Eight. Termination of bankruptcy proceedings
After the distribution of the bankruptcy property, the administrator shall promptly submit a bankruptcy property distribution report to the people's court and request the people's court to make a decision within fifteen days from the date of receipt of the administrator's request to terminate the bankruptcy proceedings. A ruling ending bankruptcy proceedings. If the ruling is terminated, an announcement shall be made.
The administrator shall, within 10 days from the date of termination of the bankruptcy proceedings, go to the bankrupt's original registration authority to handle deregistration based on the people's court's ruling to terminate the bankruptcy proceedings.