企业破产法中英文-EnterpriseBankruptcyLawofChina-2007.6.1 企业破产法职工补偿金

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中华人民共和国主席令

第 五十四 号

  《中华人民共和国企业破产法》已由中华人民共和国第十届全国人民代表大会常务委员会第二十三次会议于2006年8月27日通过,现予公布,自2007年6月1日起施行。                 中华人民共和国主席 胡锦涛                            2006年8月27日

中华人民共和国企业破产法
(2006年8月27日第十届全国人民代表大会常务委员会第二十三次会议通过)

目  录

  第一章 总  则
  第二章 申请和受理
   第一节 申  请
   第二节 受  理
  第三章 管理人
  第四章 债务人财产
  第五章 破产费用和共益债务
  第六章 债权申报
  第七章 债权人会议
   第一节 一般规定
   第二节 债权人委员会
  第八章 重  整
   第一节 重整申请和重整期间
   第二节 重整计划的制定和批准
   第三节 重整计划的执行
  第九章 和  解
  第十章 破产清算
   第一节 破产宣告
   第二节 变价和分配
   第三节 破产程序的终结
  第十一章 法律责任
  第十二章 附  则

Enterprise Bankruptcy Law of the People's Republicof China

Order of the President of the People’s Republic ofChina No.54

The Enterprise Bankruptcy Law of the People’sRepublic of China, adopted at the 23rd Meeting of the StandingCommittee of the Tenth National People’s Congress of the People’sRepublic of China on August 27, 2006, is hereby promulgated andshall go into effect as of June 1, 2007.

Hu Jintao

President of the People’s Republic ofChina

August 27, 2006

Enterprise Bankruptcy Law of the People’s Republicof China

(Adopted at the 23rd Meeting of the StandingCommittee of the Tenth National People’s Congress on August 27,2006)

Contents

Chapter I General Provisions

Chapter II Application and Acceptance

Section 1 Application

Section 2 Acceptance

Chapter III Administrator

Chapter IV A Debtor’s Property

Chapter V Expenses for Bankruptcy Proceedings andDebts Incurred for the Common Good of Creditors

Chapter VI Declaration of Claims

Chapter VII Creditors’ Meeting

Section 1 General Provisions

Section 2 The Creditors’ Committee

Chapter VIII Reorganization

Section 1 Application for and Period ofReorganization

Section 2 Formulation of and Approval for aReorganization Plan

Section 3 Implementation of a ReorganizationPlan

Chapter IX Compromise

Chapter X Bankruptcy Liquidation

Section 1 Bankruptcy Declaration

Section 2Realization and Distribution

Section 3 Termination of the Procedure forBankruptcy

Chapter XI Legal Liability

Chapter XII Supplementary Provisions

第一章 总  则

  第一条 为规范企业破产程序,公平清理债权债务,保护债权人和债务人的合法权益,维护社会主义市场经济秩序,制定本法。
  第二条 企业法人不能清偿到期债务,并且资产不足以清偿全部债务或者明显缺乏清偿能力的,依照本法规定清理债务。
  企业法人有前款规定情形,或者有明显丧失清偿能力可能的,可以依照本法规定进行重整。
  第三条 破产案件由债务人住所地人民法院管辖。
  第四条 破产案件审理程序,本法没有规定的,适用民事诉讼法的有关规定。
  第五条 依照本法开始的破产程序,对债务人在中华人民共和国领域外的财产发生效力。
  对外国法院作出的发生法律效力的破产案件的判决、裁定,涉及债务人在中华人民共和国领域内的财产,申请或者请求人民法院承认和执行的,人民法院依照中华人民共和国缔结或者参加的国际条约,或者按照互惠原则进行审查,认为不违反中华人民共和国法律的基本原则,不损害国家主权、安全和社会公共利益,不损害中华人民共和国领域内债权人的合法权益的,裁定承认和执行。
  第六条 人民法院审理破产案件,应当依法保障企业职工的合法权益,依法追究破产企业经营管理人员的法律责任。

Chapter I

General Provisions

Article 1 This Law is enacted with a view toregulating the procedure for enterprise bankruptcy, fairly settlingclaims and debts, safeguarding the lawful rights and interests ofcreditors and debtors, and maintaining the order of the socialistmarket economy.

Article 2 Where an enterprise legal person cannotpay off his debts due and his assets are not enough for paying offall the debts, or he apparently lacks the ability to pay off hisdebts, the debts shall be liquidated according to the provisions ofthis Law.

Where an enterprise legal person is under thecircumstances as specified in the preceding paragraph or he hasapparently forfeited the ability to pay off his debts, he mayundergo reorganization according to the provisions of thisLaw.

Article 3 A bankruptcy case shall be under thejurisdiction of the people’s court at the place where the debtorresides.

Article 4 Where there are no provisions in thisLaw to govern the procedure for hearing a bankruptcy case, therelevant provisions of the Civil Procedure Law shall beapplicable.

Article 5 Once the procedure for bankruptcy areinitiated according to this Law, it shall come into effect inrespect of the debtor’s property outside of the territory of thePeople’s Republic of China.

Where a legally effective judgment or ruling madeon a bankruptcy case by a court of another country involves adebtor’s property within the territory of the People’s Republic ofChina and the said court applies with or requests the people’scourt to recognize and enforce it, the people’s court shall,according to the relevant international treaties that China hasconcluded or acceded to or on the basis of the principle ofreciprocity, conduct examination thereof and, when believing thatthe said judgment or ruling does not violate the basic principlesof the laws of the People’s Republic of China, does not jeopardizethe sovereignty and security of the State or public interests, doesnot undermine the legitimate rights and interests of the creditorswithin the territory of the People’s Republic of China, decide torecognize and enforce the judgement or ruling.

Article 6 When trying a bankruptcy case, thepeople’s court shall, in accordance with law, guarantee thelegitimate rights and interests of the employees of the enterpriseand investigate the business managers of the bankruptcy enterprisefor their legal liabilities.

第二章 申请和受理

第一节 申  请

  第七条 债务人有本法第二条规定的情形,可以向人民法院提出重整、和解或者破产清算申请。
  债务人不能清偿到期债务,债权人可以向人民法院提出对债务人进行重整或者破产清算的申请。
  企业法人已解散但未清算或者未清算完毕,资产不足以清偿债务的,依法负有清算责任的人应当向人民法院申请破产清算。
  第八条 向人民法院提出破产申请,应当提交破产申请书和有关证据。
  破产申请书应当载明下列事项:
  (一)申请人、被申请人的基本情况;
  (二)申请目的;
  (三)申请的事实和理由;
  (四)人民法院认为应当载明的其他事项。
  债务人提出申请的,还应当向人民法院提交财产状况说明、债务清册、债权清册、有关财务会计报告、职工安置预案以及职工工资的支付和社会保险费用的缴纳情况。
  第九条 人民法院受理破产申请前,申请人可以请求撤回申请。

第二节 受  理

  第十条 债权人提出破产申请的,人民法院应当自收到申请之日起五日内通知债务人。债务人对申请有异议的,应当自收到人民法院的通知之日起七日内向人民法院提出。人民法院应当自异议期满之日起十日内裁定是否受理。
  除前款规定的情形外,人民法院应当自收到破产申请之日起十五日内裁定是否受理。
  有特殊情况需要延长前两款规定的裁定受理期限的,经上一级人民法院批准,可以延长十五日。
  第十一条 人民法院受理破产申请的,应当自裁定作出之日起五日内送达申请人。
  债权人提出申请的,人民法院应当自裁定作出之日起五日内送达债务人。债务人应当自裁定送达之日起十五日内,向人民法院提交财产状况说明、债务清册、债权清册、有关财务会计报告以及职工工资的支付和社会保险费用的缴纳情况。
  第十二条 人民法院裁定不受理破产申请的,应当自裁定作出之日起五日内送达申请人并说明理由。申请人对裁定不服的,可以自裁定送达之日起十日内向上一级人民法院提起上诉。
  人民法院受理破产申请后至破产宣告前,经审查发现债务人不符合本法第二条规定情形的,可以裁定驳回申请。申请人对裁定不服的,可以自裁定送达之日起十日内向上一级人民法院提起上诉。
  第十三条 人民法院裁定受理破产申请的,应当同时指定管理人。
  第十四条 人民法院应当自裁定受理破产申请之日起二十五日内通知已知债权人,并予以公告。
  通知和公告应当载明下列事项:
  (一)申请人、被申请人的名称或者姓名;
  (二)人民法院受理破产申请的时间;
  (三)申报债权的期限、地点和注意事项;
  (四)管理人的名称或者姓名及其处理事务的地址;
  (五)债务人的债务人或者财产持有人应当向管理人清偿债务或者交付财产的要求;
  (六)第一次债权人会议召开的时间和地点;
  (七)人民法院认为应当通知和公告的其他事项。
  第十五条 自人民法院受理破产申请的裁定送达债务人之日起至破产程序终结之日,债务人的有关人员承担下列义务:
  (一)妥善保管其占有和管理的财产、印章和账簿、文书等资料;
  (二)根据人民法院、管理人的要求进行工作,并如实回答询问;
  (三)列席债权人会议并如实回答债权人的询问;
  (四)未经人民法院许可,不得离开住所地;
  (五)不得新任其他企业的董事、监事、高级管理人员。
  前款所称有关人员,是指企业的法定代表人;经人民法院决定,可以包括企业的财务管理人员和其他经营管理人员。
  第十六条 人民法院受理破产申请后,债务人对个别债权人的债务清偿无效。
  第十七条 人民法院受理破产申请后,债务人的债务人或者财产持有人应当向管理人清偿债务或者交付财产。
  债务人的债务人或者财产持有人故意违反前款规定向债务人清偿债务或者交付财产,使债权人受到损失的,不免除其清偿债务或者交付财产的义务。
  第十八条 人民法院受理破产申请后,管理人对破产申请受理前成立而债务人和对方当事人均未履行完毕的合同有权决定解除或者继续履行,并通知对方当事人。管理人自破产申请受理之日起二个月内未通知对方当事人,或者自收到对方当事人催告之日起三十日内未答复的,视为解除合同。
  管理人决定继续履行合同的,对方当事人应当履行;但是,对方当事人有权要求管理人提供担保。管理人不提供担保的,视为解除合同。
  第十九条 人民法院受理破产申请后,有关债务人财产的保全措施应当解除,执行程序应当中止。
  第二十条 人民法院受理破产申请后,已经开始而尚未终结的有关债务人的民事诉讼或者仲裁应当中止;在管理人接管债务人的财产后,该诉讼或者仲裁继续进行。
  第二十一条 人民法院受理破产申请后,有关债务人的民事诉讼,只能向受理破产申请的人民法院提起。

Chapter II

Application and Acceptance

Section 1 Application

Article 7 Where a debtor is under thecircumstances as specified in Article 2 of this Law, he may make anapplication to the people’s court for reorganization, compromise orbankruptcy liquidation.

Where the debtor cannot pay off his debts due, thecreditor may make an application to the people’s court for thedebtor’s reorganization or bankruptcy liquidation.

Where an enterprise legal person has beendissolved but has not started or completed liquidation and he doesnot have enough assets to pay off his debts, the person responsiblefor liquidation according to law shall make an application to thepeople’s court for bankruptcy liquidation.

Article 8 For applying to a people’s court forbankruptcy, an Application for Bankruptcy and the related evidenceshall be submitted to it.

The following matters shall clearly be stated inthe Application for Bankruptcy:

(1) a basic introduction to the applicant and thedefending party of the application;

(2) purposes of application;

(3) facts and grounds of the application;and

(4) other matters that the people’s court deemsnecessary to state.

Where a debtor makes an application, he shallsubmit to the people’s court statements on his financial position,a complete list of his debts, a complete list of his claims, therelated financial statements, a plan for employee arrangements andpayment of his employees’ wages and social insurancepremiums.

Article 9 Before the people’s court accepts anapplication for bankruptcy, the applicant may request forwithdrawal of the application.

Section 2 Acceptance

Article 10 Where a creditor makes an applicationfor bankruptcy, the people’s court shall, within five days from thedate it receives the application, notify the debtor concerned.Where the debtor has objections to the application, he shall putforward his objections to the people’s court within seven days fromthe date he receives notification from the people’s court. Thepeople’s court shall decide whether or not to accept the casewithin 10 days at the expiration of the period for raisingobjections.

Except for the circumstances as specified in thepreceding paragraph, the people’s court shall decide whether or notto accept an application for bankruptcy within 15 days from thedate it receives the application.

Under special circumstances where the time limitfor deciding whether to accept a case, as specified in thepreceding two paragraphs, needs to be extended, it may be extendedfor another 15 days upon approval by the people’s court at the nexthigher level.

Article 11 Where the people’s court decides toaccept an application for bankruptcy, it shall serve such decisionon the applicant within five days from the date it makes thedecision.

Where the application is made by a creditor, thepeople’s court shall serve its decision on the debtor within fivedays from the date it makes the decision. The debtor shall, within15 days from the date the decision is served, submit to thepeople’s court statements on his financial position, a completelist of his debts, a complete list of his claims, the relatedfinancial statements and payment of his employees’ wages and socialinsurance premiums.

Article 12 Where the people’s court decides not toaccept an application for bankruptcy, it shall serve the decisionon the applicant within five days from the date it makes thedecision and explain the reasons why. Where the applicant isdissatisfied with the decision, he may, within 10 days from thedate the decision is served, file an appeal with the people’s courtat the next higher level.

Where during the period from acceptance of anapplication for bankruptcy to declaration of bankruptcy, thepeople’s court finds through examination that the debtor is notunder the circumstances as specified in Article 2 of this Law, itmay decide to reject the application. Where the applicant isdissatisfied with the decision, he may, within 10 days from thedate the decision is served, file an appeal with the people’s courtat the next higher level.

Article 13 When the people’s court decides toaccept an application for bankruptcy, it shall designate anadministrator at the same time.

Article 14 The people’s court shall, within 25days from the date it decides to accept an application forbankruptcy, it shall notify the creditors already known andannounce its decision.

The following matters shall clearly be stated inthe notification and announcement:

(1) titles or names of the applicant and thedefending party of the application;

(2) the time when the people’s court accepts theapplication for bankruptcy;

(3) period, place and points for attention withrespect to declaration of claims;

(4) title or name of the administrator and theoffice address;

(5) demand made by the administrator upon thedebtors or property holders of the debtor for paying off the debtsor delivering the property;

(6) the time and place for the first creditors’meeting to be held; and

(7) other matters that the people’s court deems itnecessary to notify of and announce.

Article 15 During the period from the date whenthe decision made by the people’s court to accept an applicationfor bankruptcy is served on the debtor to the date when theprocedure for bankruptcy is concluded, the persons related to thedebtor shall fulfill the following obligations:

(1) properly preserving the property, seals,account books, documents, etc. which are in their possession andunder their management;

(2) proceeding with the work according to therequirements of the people’s court and the administrator, andtruthfully answering their inquiries;

(3) attending the creditors’ meetings asnon-voting participants and truthfully answering the creditors’inquiries;

(4) remaining at their domiciles, unless otherwisepermitted by the people’s court; and

(5) not taking up any post as director, supervisoror senior manager in any other enterprise.

The persons related to the debtor mentioned in thepreceding paragraph include the legal representative of anenterprise, which may, upon decision by the people’s court, alsoinclude the financial managers and business managers of theenterprise.

Article 16 After the people’s court accepts anapplication for bankruptcy, payment of debts made by the debtor toindividual creditors shall be invalid.

Article 17 After the people’s court accepts anapplication for bankruptcy, the debtors or property holders of thedebtor shall pay off the debts or deliver the property to theadministrator.

Where the debtors or property holders of thedebtor intentionally pay off the debts or deliver the property tothe debtor in violation of the provisions of the precedingparagraph, thus causing losses to creditors, they shall not befreed from the obligation of paying off the debts or delivering theproperty.

Article 18 After the people’s court accepts anapplication for bankruptcy, the administrator shall have the rightto decide to rescind or continue to perform a contract that isconcluded before the acceptance yet remains to be fulfilled by boththe debtor and the other party and shall notify the other party ofhis decision. Where the administrator fails to notify the otherparty within two months from the date when the bankruptcyapplication is accepted or to give any reply to the exhortationmade by the other party with 30 days from the date the exhortationis made, the contract shall be deemed to be rescinded.

Where the administrator decides that performanceof the contract be continued, the other party shall comply;however, the other party shall have the right to request theadministrator to provide guaranty. Where the administrator refusesto do so, the contract shall be deemed to be rescinded.

Article 19 After the people’s court accepts anapplication for bankruptcy, the measures for preserving theproperty of the debtor shall be lifted and the procedure forexecution shall be suspended.

Article 20 After the people’s court accepts anapplication for bankruptcy, any civil action or arbitrationinvolving the debtor that has been started but has not yet beenconcluded shall be suspended; however, the action or arbitrationcan proceed after an administrator takes over the debtor’sproperty.

Article 21 After the people’s court accepts anapplication for bankruptcy, a civil action against the debtor canonly be filed with the said people’s court.

第三章 管理人

  第二十二条 管理人由人民法院指定。
  债权人会议认为管理人不能依法、公正执行职务或者有其他不能胜任职务情形的,可以申请人民法院予以更换。
  指定管理人和确定管理人报酬的办法,由最高人民法院规定。
  第二十三条 管理人依照本法规定执行职务,向人民法院报告工作,并接受债权人会议和债权人委员会的监督。
  管理人应当列席债权人会议,向债权人会议报告职务执行情况,并回答询问。
  第二十四条 管理人可以由有关部门、机构的人员组成的清算组或者依法设立的律师事务所、会计师事务所、破产清算事务所等社会中介机构担任。
  人民法院根据债务人的实际情况,可以在征询有关社会中介机构的意见后,指定该机构具备相关专业知识并取得执业资格的人员担任管理人。
  有下列情形之一的,不得担任管理人:
  (一)因故意犯罪受过刑事处罚;
  (二)曾被吊销相关专业执业证书;
  (三)与本案有利害关系;
  (四)人民法院认为不宜担任管理人的其他情形。
  个人担任管理人的,应当参加执业责任保险。
  第二十五条 管理人履行下列职责:
  (一)接管债务人的财产、印章和账簿、文书等资料;
  (二)调查债务人财产状况,制作财产状况报告;
  (三)决定债务人的内部管理事务;
  (四)决定债务人的日常开支和其他必要开支;
  (五)在第一次债权人会议召开之前,决定继续或者停止债务人的营业;
  (六)管理和处分债务人的财产;
  (七)代表债务人参加诉讼、仲裁或者其他法律程序;
  (八)提议召开债权人会议;
  (九)人民法院认为管理人应当履行的其他职责。
  本法对管理人的职责另有规定的,适用其规定。
  第二十六条 在第一次债权人会议召开之前,管理人决定继续或者停止债务人的营业或者有本法第六十九条规定行为之一的,应当经人民法院许可。
  第二十七条 管理人应当勤勉尽责,忠实执行职务。
  第二十八条 管理人经人民法院许可,可以聘用必要的工作人员。
  管理人的报酬由人民法院确定。债权人会议对管理人的报酬有异议的,有权向人民法院提出。
  第二十九条 管理人没有正当理由不得辞去职务。管理人辞去职务应当经人民法院许可。

Chapter III

Administrator

Article 22 The administrator shall be designatedby the people’s court.

Where the creditors’ meeting believes that theadministrator cannot perform his duties according to law orimpartially or is incompetent to fulfill his duties, the meetingmay apply with the people’s court for replacement.

The measures for designating administrators anddetermining their remunerations shall be formulated by the SupremePeople’s Court.

Article 23 An administrator shall perform hisduties according to the provisions of this Law, report on his workto the people’s court and be subject to supervision by thecreditors’ meeting and the creditors’ committee.

The administrator shall attend the creditors’meetings as a non-voting participant, reporting on the performanceof his duties and answering inquires.

Article 24 A liquidation team composed of personsof the departments or authorities concerned or a law firm, acertified public accountant firm, a bankruptcy liquidation firm orany other public intermediary agency that is established accordingto law may serve as an administrator.

The people’s court may, in light of the actualconditions of a debtor and after consulting with the publicintermediary agency concerned, designate the person who has thenecessary professional knowledge and has obtained thequalifications for the practice to serve as anadministrator.

A person shall not serve as an administrator,if:

(1) he has been subjected to criminal punishmentfor intentional offense;

(2) his qualification certificate for the relevantpractice has been revoked;

(3) he has an interest in the case; or

(4) the people’s court deems it improper to havehim serve as an administrator.

Where the administrator is served by an individualperson, he shall purchase the responsibility insurance for thepractice.

Article 25 An administrator shall perform thefollowing duties:

(1) taking over the property, seals, accountbooks, documents and other data of the debtor;

(2) investigating into the financial position ofthe debtor and preparing a report on such position;

(3) deciding on matters of internal management ofthe debtor;

(4) deciding on the day-to-day expenses and othernecessary expenditures of the debtor;

(5) deciding, before the first creditors’ meetingis held, to continue or suspend the debtor’s business;

(6) managing and disposing of the debtor’sproperty;

(7) participating in legal actions, arbitrationsor any other legal procedure on behalf of the debtor;

(8) proposing to hold creditors’ meetings;and

(9) performing other duties that the people’scourt deems that he should.

Where other provisions governing the duties of anadministrator are stipulated in this Law, those provisions shall beapplicable.

Article 26 If an administrator decides to continueor suspend the business operation of a debtor or if he intends totake any of the actions as specified by the provisions of Article69 of this Law before the first creditors’ meeting is held, thematter shall be subject to approval by the people’scourt.

Article 27 An administrator shall be hardworkingin doing his duties, and shall perform his dutiesfaithfully.

Article 28 An administrator may, upon approval bythe people’s court, employ the necessary workers.

The remuneration of an administrator shall bedetermined by the people’s court. In case the creditors’ meetinghas objections to such remuneration, it shall have the right toraise them to the people’s court.

Article 29 An administrator shall not resign hispost without justifiable reasons. Resignation of an administratorshall be subject to approval by the people’s court.

第四章 债务人财产

  第三十条 破产申请受理时属于债务人的全部财产,以及破产申请受理后至破产程序终结前债务人取得的财产,为债务人财产。
  第三十一条 人民法院受理破产申请前一年内,涉及债务人财产的下列行为,管理人有权请求人民法院予以撤销:
  (一)无偿转让财产的;
  (二)以明显不合理的价格进行交易的;
  (三)对没有财产担保的债务提供财产担保的;
  (四)对未到期的债务提前清偿的;
  (五)放弃债权的。
  第三十二条 人民法院受理破产申请前六个月内,债务人有本法第二条第一款规定的情形,仍对个别债权人进行清偿的,管理人有权请求人民法院予以撤销。但是,个别清偿使债务人财产受益的除外。
  第三十三条 涉及债务人财产的下列行为无效:
  (一)为逃避债务而隐匿、转移财产的;
  (二)虚构债务或者承认不真实的债务的。
  第三十四条 因本法第三十一条、第三十二条或者第三十三条规定的行为而取得的债务人的财产,管理人有权追回。
  第三十五条 人民法院受理破产申请后,债务人的出资人尚未完全履行出资义务的,管理人应当要求该出资人缴纳所认缴的出资,而不受出资期限的限制。
  第三十六条 债务人的董事、监事和高级管理人员利用职权从企业获取的非正常收入和侵占的企业财产,管理人应当追回。
  第三十七条 人民法院受理破产申请后,管理人可以通过清偿债务或者提供为债权人接受的担保,取回质物、留置物。
  前款规定的债务清偿或者替代担保,在质物或者留置物的价值低于被担保的债权额时,以该质物或者留置物当时的市场价值为限。
  第三十八条 人民法院受理破产申请后,债务人占有的不属于债务人的财产,该财产的权利人可以通过管理人取回。但是,本法另有规定的除外。
  第三十九条 人民法院受理破产申请时,出卖人已将买卖标的物向作为买受人的债务人发运,债务人尚未收到且未付清全部价款的,出卖人可以取回在运途中的标的物。但是,管理人可以支付全部价款,请求出卖人交付标的物。
  第四十条 债权人在破产申请受理前对债务人负有债务的,可以向管理人主张抵销。但是,有下列情形之一的,不得抵销:
  (一)债务人的债务人在破产申请受理后取得他人对债务人的债权的;
  (二)债权人已知债务人有不能清偿到期债务或者破产申请的事实,对债务人负担债务的;但是,债权人因为法律规定或者有破产申请一年前所发生的原因而负担债务的除外;
  (三)债务人的债务人已知债务人有不能清偿到期债务或者破产申请的事实,对债务人取得债权的;但是,债务人的债务人因为法律规定或者有破产申请一年前所发生的原因而取得债权的除外。

Chapter IV

A Debtor’s Property

Article 30 A debtor’s property includes all of theproperty that belongs to a debtor when the application forbankruptcy is accepted, as well as the property as obtained by thedebtor during the period from the time when the application forbankruptcy is accepted to the time when the procedures forbankruptcy are concluded.

Article 31 An administrator shall have the rightto request the court to nullify any of the following actions takenwithin one year before the people’s court accepts the applicationfor bankruptcy in respect of the debtor’s property:

(1) transferring the property gratis;

(2) trading at an obviously unreasonableprice;

(3) providing property guaranty to unsecureddebts;

(4) paying off debts not due; or

(5) abandoning claims.

Article 32 Within six months before the people’scourt accepts the application for bankruptcy, if a debtor is underthe circumstances as specified in the first paragraph of Article 2of this Law but chooses to make repayment to individual creditors,the administrator shall have the right to request the people’scourt to nullify it, except where such individual repayment isbeneficial to the debtor’s property.

Article 33 The following actions taken in respectof the debtor’s property are invalid:

(1) concealing or transferring the property inorder to avoid repayment of debts; and

(2) fabricating debts or acknowledging unrealdebts.

Article 34 Where the property is obtained from thedebtor by means of such actions as specified in Article 31, 32 or33 of this Law, the administrator shall have the right to recoverit.

Article 35 Where after the people’s court acceptsan application for bankruptcy, any of the debtor’s capitalcontributors that fails to fulfill his obligation of capitalcontribution in full, the administrator shall require the capitalcontributor to contribute the capital he has subscribed to,irrespective of the time limit set on capitalcontribution.

Article 36 The administrator shall recover theirregular incomes obtained from the enterprise and the property ofthe enterprise illegally taken into his possession by a director,supervisor or senior manger of the debtor through taking advantageof his position.

Article 37 After the people’s court accepts anapplication for bankruptcy, the administrator may take back thepledge or lien through paying off the debts or providing a guarantyacceptable to the creditor.

With respect to payment of debts or provision ofguaranty as a substitute, as mentioned in the preceding paragraph,if the value of the pledge or lien is lower than the amount of theclaim for which the guaranty is provided, the value of the pledgeor lien shall be limited to its market value at the time when thepledge or lien was made.

Article 38 After the people’s court accepts anapplication for bankruptcy, the property, which has been taken by adebtor into his possession but which does not belong to the debtor,may be taken back by the obligee of the property through theadministrator, unless otherwise provided for by thisLaw.

Article 39 At the time when the people’s courtaccepts an application for bankruptcy, if the seller has sent thegoods to the debtor as the buyer and the latter has neitherreceived the goods nor paid the money in full, the seller may getback the goods in transit. However, the administrator may pay themoney in full and request the seller to deliver thegoods.

Article 40 Where a creditor is in debt to thedebtor before the application for bankruptcy is accepted, theformer may lodge a claim with the administrator for offsetting thedebts. However, the debts shall not be offset under any of thefollowing circumstances:

(1) being in debt to the debtor, he obtainsanother person’s claims against the debtor after the applicationfor bankruptcy is accepted;

(2) getting into debt to the debtor when healready knows the fact that the debtor is incapable of paying offhis debts due or has applied for bankruptcy; unless it is otherwiseprovided for by law or he gets into debt because of thedevelopments that take place one year before the application forbankruptcy is made; or

(3) being a debtor to the debtor, he obtains theclaims from the debtor when he already knows the fact that thedebtor is incapable of paying off his debts due or has applied forbankruptcy; unless it is otherwise provided for by law or heobtains the claims because of the developments that take place oneyear before the application for bankruptcy is made.

第五章 破产费用和共益债务

  第四十一条 人民法院受理破产申请后发生的下列费用,为破产费用:
  (一)破产案件的诉讼费用;
  (二)管理、变价和分配债务人财产的费用;
  (三)管理人执行职务的费用、报酬和聘用工作人员的费用。
  第四十二条 人民法院受理破产申请后发生的下列债务,为共益债务:
  (一)因管理人或者债务人请求对方当事人履行双方均未履行完毕的合同所产生的债务;
  (二)债务人财产受无因管理所产生的债务;
  (三)因债务人不当得利所产生的债务;
  (四)为债务人继续营业而应支付的劳动报酬和社会保险费用以及由此产生的其他债务;
  (五)管理人或者相关人员执行职务致人损害所产生的债务;
  (六)债务人财产致人损害所产生的债务。
  第四十三条 破产费用和共益债务由债务人财产随时清偿。
  债务人财产不足以清偿所有破产费用和共益债务的,先行清偿破产费用。
  债务人财产不足以清偿所有破产费用或者共益债务的,按照比例清偿。
  债务人财产不足以清偿破产费用的,管理人应当提请人民法院终结破产程序。人民法院应当自收到请求之日起十五日内裁定终结破产程序,并予以公告。

Chapter V

Expenses for Bankruptcy Proceedings and DebtsIncurred for the Common Good of Creditors

Article 41 The following expenses that areentailed after the people’s court accepts an application forbankruptcy are expenses for bankruptcy proceedings:

(1) litigation cost involved in a bankruptcycase;

(2) expenses for management, realization anddistribution of the debtor’s property; and

(3) expenses involved in the administrator’sperformance of his duties and paid for his remuneration andexpenses for the employees recruited.

Article 42 The following debts incurred after thepeople’s court accepts an application for bankruptcy are debtsincurred for the common good of creditors:

(1) debts incurred because the administrator ordebtor requests the other party to fulfill a contract which bothparties have failed to fulfill;

(2) debts to the debtor through spontaneous agencyon the debtor’s property;

(3) debts incurred as a result of the debtor’sunjust enrichment;

(4) remunerations for work and social insurancepremiums payable for sustaining the debtor’s business operations,and other debts arising therefrom;

(5) debts incurred by the administrator or anemployee who causes losses to another person in the course ofperforming his duties; and

(6) debts incurred by the debtor’s property forcausing losses to another person.

Article 43 The expenses for bankruptcy proceedingsand the debts incurred for the common good of creditors shall bepaid off with the debtor’s property at any time.

Where the debtor’s property is not enough forpaying off all the expenses for bankruptcy proceedings and thedebts incurred for the common good of creditors, the former shallbe paid off first.

Where the debtor’s property is not enough forpaying off all the expenses for bankruptcy proceedings or the debtsincurred for the common good of creditors, such payment shall bemade on a pro rata basis.

Where the debtor’s property is not enough forpaying off the expenses for bankruptcy proceedings, theadministrator shall request the people’s court to conclude theprocedure for bankruptcy. The people’s court shall, with 15 daysfrom the date it receives the request, decide to conclude theprocedure for bankruptcy and announce the decision.

第六章 债权申报

  第四十四条 人民法院受理破产申请时对债务人享有债权的债权人,依照本法规定的程序行使权利。
  第四十五条 人民法院受理破产申请后,应当确定债权人申报债权的期限。债权申报期限自人民法院发布受理破产申请公告之日起计算,最短不得少于三十日,最长不得超过三个月。
  第四十六条 未到期的债权,在破产申请受理时视为到期。
  附利息的债权自破产申请受理时起停止计息。
  第四十七条 附条件、附期限的债权和诉讼、仲裁未决的债权,债权人可以申报。
  第四十八条 债权人应当在人民法院确定的债权申报期限内向管理人申报债权。
  债务人所欠职工的工资和医疗、伤残补助、抚恤费用,所欠的应当划入职工个人账户的基本养老保险、基本医疗保险费用,以及法律、行政法规规定应当支付给职工的补偿金,不必申报,由管理人调查后列出清单并予以公示。职工对清单记载有异议的,可以要求管理人更正;管理人不予更正的,职工可以向人民法院提起诉讼。
  第四十九条 债权人申报债权时,应当书面说明债权的数额和有无财产担保,并提交有关证据。申报的债权是连带债权的,应当说明。
  第五十条 连带债权人可以由其中一人代表全体连带债权人申报债权,也可以共同申报债权。
  第五十一条 债务人的保证人或者其他连带债务人已经代替债务人清偿债务的,以其对债务人的求偿权申报债权。
  债务人的保证人或者其他连带债务人尚未代替债务人清偿债务的,以其对债务人的将来求偿权申报债权。但是,债权人已经向管理人申报全部债权的除外。
  第五十二条 连带债务人数人被裁定适用本法规定的程序的,其债权人有权就全部债权分别在各破产案件中申报债权。
  第五十三条 管理人或者债务人依照本法规定解除合同的,对方当事人以因合同解除所产生的损害赔偿请求权申报债权。
  第五十四条 债务人是委托合同的委托人,被裁定适用本法规定的程序,受托人不知该事实,继续处理委托事务的,受托人以由此产生的请求权申报债权。
  第五十五条 债务人是票据的出票人,被裁定适用本法规定的程序,该票据的付款人继续付款或者承兑的,付款人以由此产生的请求权申报债权。
  第五十六条 在人民法院确定的债权申报期限内,债权人未申报债权的,可以在破产财产最后分配前补充申报;但是,此前已进行的分配,不再对其补充分配。为审查和确认补充申报债权的费用,由补充申报人承担。
  债权人未依照本法规定申报债权的,不得依照本法规定的程序行使权利。
  第五十七条 管理人收到债权申报材料后,应当登记造册,对申报的债权进行审查,并编制债权表。
  债权表和债权申报材料由管理人保存,供利害关系人查阅。
  第五十八条 依照本法第五十七条规定编制的债权表,应当提交第一次债权人会议核查。
  债务人、债权人对债权表记载的债权无异议的,由人民法院裁定确认。
  债务人、债权人对债权表记载的债权有异议的,可以向受理破产申请的人民法院提起诉讼。

Chapter VI

Declaration of Claims

Article 44 As of the time when the people’s courtaccepts an application for bankruptcy, the creditor that enjoys theclaims against the debtor may exercise his right in respect of hisclaims according to the procedures as prescribed by thisLaw.

Article 45 After accepting an application forbankruptcy, the people’s court shall specify the time limit for acreditor to declare claims. Such time limit, calculated from thedate when the people’s court announces its acceptance of theapplication for bankruptcy, shall be not less than 30 days at leastbut not more than three months at the most.

Article 46 All claims undue shall be deemed to bedue at the time when the application for bankruptcy isaccepted.

Beginning from the time when the application forbankruptcy is accepted, calculation of the interest on claims shallbe stopped.

Article 47 A creditor may declare his claims whichare attached with certain conditions or time limit and the claimsfor which an action or arbitration is pending.

Article 48 A creditor shall, within the time limitspecified by the people’s court for declaration of his claims,declare his claims to the administrator.

It is not necessary for the debtor to declare thewages, subsidies for medical treatment, injuires and disability andthe pensions for the disabled and the families of the deceasedwhich he owes, the basic old-age insurance premiums and medicalinsurance premiums which he owes and fails to enter in theemployees’ personal accounts, and the compensations which should bepaid to the employees as prescribed by relevant laws andadministrative regulations, for all of which the administratorshall compile a list after investigation and have it published.Where an employee has objections to what is recorded in the list,he may request the administrator to make corrections; and if theadministrator refuses to do so, the employee may file an actionwith the people’s court.

Article 49 When a creditor declares his claims, heshall make a written statement on the amount of his claims and onwhether there is any property guaranty, and present the relevantevidence. If the claims declared are joint-and-several claims, heshall give an explanation thereof.

Article 50 Joint-and-several creditors may chooseone from among them to declare their claims on their behalf ordeclare their claims jointly.

Article 51 Where the debtor’s guarantor or anyjoint-and-several debtor has paid off the debts on behalf of thedebtor, he may declare his claims on the basis of his right ofrecourse to the debtor.

Where the debtor’s guarantor or anyjoint-and-several debtor has not paid off the debts on behalf ofthe debtor, he may declare his claims on the basis of his futureright of recourse to the debtor, unless the creditors have declaredall their claims to the administrator.

Article 52 Where it is ruled that the procedure asprescribed in this Law should be applicable to more than onejoint-and-several debtor, their creditors shall have the right todeclare all of their claims in each of the bankruptcycases.

Article 53 Where an administrator or debtorrevokes a contract according to the provisions of this Law, theother party may declare his claims on the basis of his right tocompensation for the damages caused by the revocation.

Article 54 Where it is ruled that a debtor who isthe entrusting party of an entrustment contract should be governedby the procedure as prescribed in this Law and the entrusted party,without knowledge of the fact, continues to deal with the entrustedbusiness, the entrusted party may declare his claims on the basisof the right of claim derived therefrom.

Article 55 Where it is ruled that a debtor beingthe producer of a negotiable instrument should be governed by theprocedures as prescribed in this Law, the payer of the negotiableinstrument continues his payment or acceptance, the payer maydeclare his claims on the basis of the right of claim derivedtherefrom.

Article 56 Where a creditor fails to declare hisclaims within the time limit for declaration of claims as specifiedby the people’s court, he may declare such claims afterwards beforedistribution of the bankruptcy property in the final installment.However, if the property has been distributed earlier, no moredistribution shall be made to him. The expenses for examining andconfirming the claims declared afterwards shall be borne by theparty that makes such declaration.

Where a creditor fails to declare his claimsaccording to the provisions of this Law, he shall not exercise hisright according to the procedure as prescribed in thisLaw.

Article 57 After receiving the materials fordeclaration of claims, the administrator shall have themregistered, examine the claims declared and fill out a form ofclaims.

The form of claims and the materials fordeclaration of claims shall be preserved by the administrator forreference by the interested parties.

Article 58 The form of claims as filled outaccording to the provisions of Article 57 of this Law shall besubmitted to the first creditors’ meeting for checking.

Where the debtor and creditor have no objectionsto what is recorded in the form of claims, the people’s court shallmake a ruling on its confirmation.

Where the debtor or creditor has objections towhat is recorded in the form of claims, he may file an action withthe people’s court that has accepted the application forbankruptcy.

第七章 债权人会议

第一节 一般规定

  第五十九条 依法申报债权的债权人为债权人会议的成员,有权参加债权人会议,享有表决权。
  债权尚未确定的债权人,除人民法院能够为其行使表决权而临时确定债权额的外,不得行使表决权。
  对债务人的特定财产享有担保权的债权人,未放弃优先受偿权利的,对于本法第六十一条第一款第七项、第十项规定的事项不享有表决权。
  债权人可以委托代理人出席债权人会议,行使表决权。代理人出席债权人会议,应当向人民法院或者债权人会议主席提交债权人的授权委托书。
  债权人会议应当有债务人的职工和工会的代表参加,对有关事项发表意见。
  第六十条 债权人会议设主席一人,由人民法院从有表决权的债权人中指定。
  债权人会议主席主持债权人会议。
  第六十一条 债权人会议行使下列职权:
  (一)核查债权;
  (二)申请人民法院更换管理人,审查管理人的费用和报酬;
  (三)监督管理人;
  (四)选任和更换债权人委员会成员;
  (五)决定继续或者停止债务人的营业;
  (六)通过重整计划;
  (七)通过和解协议;
  (八)通过债务人财产的管理方案;
  (九)通过破产财产的变价方案;
  (十)通过破产财产的分配方案;
  (十一)人民法院认为应当由债权人会议行使的其他职权。
  债权人会议应当对所议事项的决议作成会议记录。
  第六十二条 第一次债权人会议由人民法院召集,自债权申报期限届满之日起十五日内召开。
  以后的债权人会议,在人民法院认为必要时,或者管理人、债权人委员会、占债权总额四分之一以上的债权人向债权人会议主席提议时召开。
  第六十三条 召开债权人会议,管理人应当提前十五日通知已知的债权人。
  第六十四条 债权人会议的决议,由出席会议的有表决权的债权人过半数通过,并且其所代表的债权额占无财产担保债权总额的二分之一以上。但是,本法另有规定的除外。
  债权人认为债权人会议的决议违反法律规定,损害其利益的,可以自债权人会议作出决议之日起十五日内,请求人民法院裁定撤销该决议,责令债权人会议依法重新作出决议。
  债权人会议的决议,对于全体债权人均有约束力。
  第六十五条 本法第六十一条第一款第八项、第九项所列事项,经债权人会议表决未通过的,由人民法院裁定。
  本法第六十一条第一款第十项所列事项,经债权人会议二次表决仍未通过的,由人民法院裁定。
  对前两款规定的裁定,人民法院可以在债权人会议上宣布或者另行通知债权人。
  第六十六条 债权人对人民法院依照本法第六十五条第一款作出的裁定不服的,债权额占无财产担保债权总额二分之一以上的债权人对人民法院依照本法第六十五条第二款作出的裁定不服的,可以自裁定宣布之日或者收到通知之日起十五日内向该人民法院申请复议。复议期间不停止裁定的执行。

第二节 债权人委员会

  第六十七条 债权人会议可以决定设立债权人委员会。债权人委员会由债权人会议选任的债权人代表和一名债务人的职工代表或者工会代表组成。债权人委员会成员不得超过九人。
  债权人委员会成员应当经人民法院书面决定认可。
  第六十八条 债权人委员会行使下列职权:
  (一)监督债务人财产的管理和处分;
  (二)监督破产财产分配;
  (三)提议召开债权人会议;
  (四)债权人会议委托的其他职权。
  债权人委员会执行职务时,有权要求管理人、债务人的有关人员对其职权范围内的事务作出说明或者提供有关文件。
  管理人、债务人的有关人员违反本法规定拒绝接受监督的,债权人委员会有权就监督事项请求人民法院作出决定;人民法院应当在五日内作出决定。
  第六十九条 管理人实施下列行为,应当及时报告债权人委员会:
  (一)涉及土地、房屋等不动产权益的转让;
  (二)探矿权、采矿权、知识产权等财产权的转让;
  (三)全部库存或者营业的转让;
  (四)借款;
  (五)设定财产担保;
  (六)债权和有价证券的转让;
  (七)履行债务人和对方当事人均未履行完毕的合同;
  (八)放弃权利;
  (九)担保物的取回;
  (十)对债权人利益有重大影响的其他财产处分行为。
  未设立债权人委员会的,管理人实施前款规定的行为应当及时报告人民法院。

Chapter VII

Creditors’ Meeting

Section 1 General Provisions

Article 59 A creditor declaring his claimsaccording to law is a member of the creditors’ meeting and has theright to attend the meetings of the creditors and enjoy the rightto vote.

A creditor whose claims are not confirmed is notentitled to exercise the right to vote unless the people’s courtcan temporarily decide on the amount of his claims for the sake ofhis exercise of such right.

Where a creditor secured by the specific propertyof the debtor and that has not given up his priority right to berepaid shall not enjoy the right to vote on matters as specified inSubparagraphs (7) and (10) under the first paragraph of Article 61of this Law.

A creditor may entrust his agent with the task ofattending the creditors’ meeting and exercising the right to vote.To attend the creditors’ meeting, the agent shall submit a letterof power of attorney to the people’s court or to the chairman ofthe creditors’ meeting.

A creditors’ meeting shall be attended byrepresentatives of the employees and of the trade union of thedebtor, who may express their views on relevant issues.

Article 60 There shall be a chairman of thecreditors’ meeting, who shall be designated by the people’s courtfrom among the creditors with the right to vote.

The chairman of the creditors’ meeting shallpreside over such meetings.

Article 61 The creditors’ meeting shall exercisethe following functions and powers:

(1) checking the claims;

(2) applying with the people’s court for replacingthe administrator and examining the expenses and remuneration ofthe administrator;

(3) supervising the work of theadministrator;

(4) selecting and replacing members of thecreditors’ committee;

(5) deciding on whether to have the debtorcontinue or discontinue his business operations;

(6) adopting plans for reorganization;

(7) adopting agreements for compromise;

(8) adopting plans for management of the debtor’sproperty;

(9) adopting plans for realizing the bankruptcyproperty into money;

(10) adopting plans for distribution of thebankruptcy property; and

(11) other functions and powers that the people’scourt deems that the creditors’ meeting should exercise.

The creditors’ meeting shall keep minutes of theresolutions made on the matters discussed.

Article 62 The first creditors’ meeting shall beconvened by the people’s court within 15 days before the expirationdate of the time limit for declaration of claims.

Subsequent creditors’ meetings may be held whenthe people’s court deems it necessary, or when the administrator,the creditors’ committee, or a creditor holding one quarter or moreof the total amount of claims proposes to the chairman of thecreditors’ meeting that such a meeting be held.

Article 63 For convening a creditors’ meeting, theadministrator shall notify the known creditors 15 days inadvance.

Article 64 A resolution made by the creditors’meeting shall be adopted by more than half of the creditors thatattend the meeting, have the right to vote, and represent half ormore of the total amount of the unsecured claims, unless otherwiseprovided for by this Law.

Where a creditor believes that a resolutionadopted at a creditors’ meeting is at variance with the provisionsof law or undermines his interests, he may, within 15 days from thedate when the resolution is made at the creditors’ meeting, pleadwith the people’s court to decide to revoke the resolution andorder the creditors’ meeting to have a resolution remade accordingto law.

A resolution adopted at the creditors’ meetingshall be binding on all creditors.

Article 65 Where any of the matters specified inSubparagraphs (8) and (9) under the first paragraph of Article 61of this Law is not adopted through voting at the creditors’meeting, it shall be subject to decision by the people’scourt.

Where the matter as specified in Subparagraph (10)under the first paragraph of Article 61 of this Law is still notadopted by a second voting at the creditors’ meeting, it shall besubject to decision by the people’s court.

The decisions as specified in the preceding twoparagraphs may be announced by the people’s court at the creditors’meeting or notified to the creditors.

Article 66 Where a creditor is dissatisfied withthe decision made by the people’s court according to the firstparagraph in Article 65 of this Law, or where the creditorsrepresenting half or more of the total unsecured claims aredissatisfied with the decision made by the people’s court accordingto the second paragraph in Article 65 of this Law, he or they may,within 15 days from the date when the decision is announced or whenthe notification thereof is received, apply with the said people’scourt for review. Execution of the decision shall not bediscontinued during the period of review.

Section 2 The Creditors’ Committee

Article 67 The creditors’ meeting may decide toestablish a creditors’ committee. The creditors’ committee shall becomposed of the creditors’ representatives who are selected by thecreditors’ meeting and a representative from among the employees ofthe debtor or from the trade union of the debtor. The members ofthe creditors’ committee shall not exceed nine persons innumber.

The members of the creditors’ committee shall besubject to confirmation by decision of the people’s court inwriting.

Article 68 The creditors’ committee shall performthe following functions and powers:

(1) supervising the management and disposition ofthe debtor’s property;

(2) supervising the distribution of the bankruptcyproperty;

(3) proposing the convening of a creditors’meeting; and

(4) other functions and powers as entrusted by thecreditors’ meeting.

When performing its functions and powers, thecreditors’ committee shall have the right to require theadministrator and the relevant employee of the debtor to give anexplanation of the matters that fall within the scope of hisfunctions and powers or provide relevant documents.

Where the administrator or the relevant employeeof the debtor, in violation of the provisions of this Law, refusesto accept supervision, the creditors’ committee shall have theright to plead with the people’s court to make a decision on thematters subject to its supervision, and the latter shall make thedecision within five days.

Article 69 Before doing any of the following, theadministrator shall report to the creditors’ committee in a timelymanner:

(1) transferring of the rights and interests ofsuch immovables as land and houses;

(2) transferring of such property rights as theright to prospecting mineral deposits, the right to mining and theintellectual property right;

(3) transferring of all the inventory or businessoperation;

(4) borrowing of money;

(5) creating of security on property;

(6) transferring of claims andsecurities;

(7) executing the contract left unfulfilled by thedebtor and the other party;

(8) waivering of rights;

(9) withdrawing of a pledge; and

(10) other acts for disposing of the property thathas a vital bearing on the creditor’s interests.

Where there is no such creditors’ committee, theadministrator shall, before executing what is specified in thepreceding paragraph, report to the people’s court in a timelymanner.

第八章 重  整

第一节 重整申请和重整期间

  第七十条 债务人或者债权人可以依照本法规定,直接向人民法院申请对债务人进行重整。
  债权人申请对债务人进行破产清算的,在人民法院受理破产申请后、宣告债务人破产前,债务人或者出资额占债务人注册资本十分之一以上的出资人,可以向人民法院申请重整。
  第七十一条 人民法院经审查认为重整申请符合本法规定的,应当裁定债务人重整,并予以公告。
  第七十二条 自人民法院裁定债务人重整之日起至重整程序终止,为重整期间。
  第七十三条 在重整期间,经债务人申请,人民法院批准,债务人可以在管理人的监督下自行管理财产和营业事务。
  有前款规定情形的,依照本法规定已接管债务人财产和营业事务的管理人应当向债务人移交财产和营业事务,本法规定的管理人的职权由债务人行使。
  第七十四条 管理人负责管理财产和营业事务的,可以聘任债务人的经营管理人员负责营业事务。
  第七十五条 在重整期间,对债务人的特定财产享有的担保权暂停行使。但是,担保物有损坏或者价值明显减少的可能,足以危害担保权人权利的,担保权人可以向人民法院请求恢复行使担保权。
  在重整期间,债务人或者管理人为继续营业而借款的,可以为该借款设定担保。
  第七十六条 债务人合法占有的他人财产,该财产的权利人在重整期间要求取回的,应当符合事先约定的条件。
  第七十七条 在重整期间,债务人的出资人不得请求投资收益分配。
  在重整期间,债务人的董事、监事、高级管理人员不得向第三人转让其持有的债务人的股权。但是,经人民法院同意的除外。
  第七十八条 在重整期间,有下列情形之一的,经管理人或者利害关系人请求,人民法院应当裁定终止重整程序,并宣告债务人破产:
  (一)债务人的经营状况和财产状况继续恶化,缺乏挽救的可能性;
  (二)债务人有欺诈、恶意减少债务人财产或者其他显著不利于债权人的行为;
  (三)由于债务人的行为致使管理人无法执行职务。

第二节 重整计划的制定和批准

  第七十九条 债务人或者管理人应当自人民法院裁定债务人重整之日起六个月内,同时向人民法院和债权人会议提交重整计划草案。
企业破产法中英文-EnterpriseBankruptcyLawofChina-2007.6.1 企业破产法职工补偿金
  前款规定的期限届满,经债务人或者管理人请求,有正当理由的,人民法院可以裁定延期三个月。
  债务人或者管理人未按期提出重整计划草案的,人民法院应当裁定终止重整程序,并宣告债务人破产。
  第八十条 债务人自行管理财产和营业事务的,由债务人制作重整计划草案。
  管理人负责管理财产和营业事务的,由管理人制作重整计划草案。
  第八十一条 重整计划草案应当包括下列内容:
  (一)债务人的经营方案;
  (二)债权分类;
  (三)债权调整方案;
  (四)债权受偿方案;
  (五)重整计划的执行期限;
  (六)重整计划执行的监督期限;
  (七)有利于债务人重整的其他方案。
  第八十二条 下列各类债权的债权人参加讨论重整计划草案的债权人会议,依照下列债权分类,分组对重整计划草案进行表决:
  (一)对债务人的特定财产享有担保权的债权;
  (二)债务人所欠职工的工资和医疗、伤残补助、抚恤费用,所欠的应当划入职工个人账户的基本养老保险、基本医疗保险费用,以及法律、行政法规规定应当支付给职工的补偿金;
  (三)债务人所欠税款;
  (四)普通债权。
  人民法院在必要时可以决定在普通债权组中设小额债权组对重整计划草案进行表决。
  第八十三条 重整计划不得规定减免债务人欠缴的本法第八十二条第一款第二项规定以外的社会保险费用;该项费用的债权人不参加重整计划草案的表决。
  第八十四条 人民法院应当自收到重整计划草案之日起三十日内召开债权人会议,对重整计划草案进行表决。
  出席会议的同一表决组的债权人过半数同意重整计划草案,并且其所代表的债权额占该组债权总额的三分之二以上的,即为该组通过重整计划草案。
  债务人或者管理人应当向债权人会议就重整计划草案作出说明,并回答询问。
  第八十五条 债务人的出资人代表可以列席讨论重整计划草案的债权人会议。
  重整计划草案涉及出资人权益调整事项的,应当设出资人组,对该事项进行表决。
  第八十六条 各表决组均通过重整计划草案时,重整计划即为通过。
  自重整计划通过之日起十日内,债务人或者管理人应当向人民法院提出批准重整计划的申请。人民法院经审查认为符合本法规定的,应当自收到申请之日起三十日内裁定批准,终止重整程序,并予以公告。
  第八十七条 部分表决组未通过重整计划草案的,债务人或者管理人可以同未通过重整计划草案的表决组协商。该表决组可以在协商后再表决一次。双方协商的结果不得损害其他表决组的利益。
  未通过重整计划草案的表决组拒绝再次表决或者再次表决仍未通过重整计划草案,但重整计划草案符合下列条件的,债务人或者管理人可以申请人民法院批准重整计划草案:
  (一)按照重整计划草案,本法第八十二条第一款第一项所列债权就该特定财产将获得全额清偿,其因延期清偿所受的损失将得到公平补偿,并且其担保权未受到实质性损害,或者该表决组已经通过重整计划草案;
  (二)按照重整计划草案,本法第八十二条第一款第二项、第三项所列债权将获得全额清偿,或者相应表决组已经通过重整计划草案;
  (三)按照重整计划草案,普通债权所获得的清偿比例,不低于其在重整计划草案被提请批准时依照破产清算程序所能获得的清偿比例,或者该表决组已经通过重整计划草案;
  (四)重整计划草案对出资人权益的调整公平、公正,或者出资人组已经通过重整计划草案;
  (五)重整计划草案公平对待同一表决组的成员,并且所规定的债权清偿顺序不违反本法第一百一十三条的规定;
  (六)债务人的经营方案具有可行性。
  人民法院经审查认为重整计划草案符合前款规定的,应当自收到申请之日起三十日内裁定批准,终止重整程序,并予以公告。
  第八十八条 重整计划草案未获得通过且未依照本法第八十七条的规定获得批准,或者已通过的重整计划未获得批准的,人民法院应当裁定终止重整程序,并宣告债务人破产。

第三节 重整计划的执行

  第八十九条 重整计划由债务人负责执行。
  人民法院裁定批准重整计划后,已接管财产和营业事务的管理人应当向债务人移交财产和营业事务。
  第九十条 自人民法院裁定批准重整计划之日起,在重整计划规定的监督期内,由管理人监督重整计划的执行。
  在监督期内,债务人应当向管理人报告重整计划执行情况和债务人财务状况。
  第九十一条 监督期届满时,管理人应当向人民法院提交监督报告。自监督报告提交之日起,管理人的监督职责终止。
  管理人向人民法院提交的监督报告,重整计划的利害关系人有权查阅。
  经管理人申请,人民法院可以裁定延长重整计划执行的监督期限。
  第九十二条 经人民法院裁定批准的重整计划,对债务人和全体债权人均有约束力。
  债权人未依照本法规定申报债权的,在重整计划执行期间不得行使权利;在重整计划执行完毕后,可以按照重整计划规定的同类债权的清偿条件行使权利。
  债权人对债务人的保证人和其他连带债务人所享有的权利,不受重整计划的影响。
  第九十三条 债务人不能执行或者不执行重整计划的,人民法院经管理人或者利害关系人请求,应当裁定终止重整计划的执行,并宣告债务人破产。
  人民法院裁定终止重整计划执行的,债权人在重整计划中作出的债权调整的承诺失去效力。债权人因执行重整计划所受的清偿仍然有效,债权未受清偿的部分作为破产债权。
  前款规定的债权人,只有在其他同顺位债权人同自己所受的清偿达到同一比例时,才能继续接受分配。
  有本条第一款规定情形的,为重整计划的执行提供的担保继续有效。
  第九十四条 按照重整计划减免的债务,自重整计划执行完毕时起,债务人不再承担清偿责任。

Chapter VIII

Reorganization

Section 1 Application for and Period ofReorganization

Article 70 A debtor or creditor may, according tothe provisions of this Law, directly apply with the people’s courtfor having the debtor reorganized.

Where a creditor applies for putting his debtorinto bankruptcy liquidation, the debtor or his capital contributorswhose capital contribution makes up one-tenth or more of thedebtor’s registered capital may, after the people’s court acceptsthe application for bankruptcy and before it declares the debtorbankrupt, apply with the people’s court forreorganization.

Article 71 Where upon examination, the people’scourt deems that an application for reorganization conforms to theprovisions of this Law, it shall rule that the debtor shouldundergo reorganization and shall make the matter known to thepublic.

Article 72 The period of reorganization shall lastfrom the date when the people’s court rules that the debtor shouldundergo reorganization to the date when the procedure forreorganization is terminated.

Article 73 During the period of reorganization,the debtor may, through his application and upon approval grantedby the people’s court, manage his property and business operationson his own under the supervision of an administrator.

Under conditions as specified in the precedingparagraph, the administrator that has taken over the property andbusiness operations from the debtor in accordance with theprovisions of this Law shall hand over the property and businessoperations to the debtor, and the functions and powers to beexercised by the administrator as specified by this Law shall beexercised by the debtor.

Article 74 The administrator that takes charge ofthe property and business operations may appoint a business managerof the debtor to take care of the business operations.

Article 75 During the period of reorganization,the exercise of the security right over the specific property of adebtor shall be suspended. However, in the case of possible damageor marked depreciation of value of the security, which may impairthe secured creditor’s right, the secured creditor may apply withthe people’s court for resuming the exercise of his securityright.

During the period of reorganization, the debtor oradministrator that borrows money for carrying on business maycreate a security on the loan.

Article 76 In the case of another person’sproperty that is legally taken into possession by a debtor, if theobligee requests to take the property back during the period ofreorganization, the terms previously agreed upon shall bemet.

Article 77 During the period of reorganization, nocapital contributor of a debtor may request for distribution ofprofits derived from his investment.

During the period of reorganization, no director,supervisor or senior manager of a debtor may transfer to a thirdparty the equity of the debtor he holds, unless with the consent ofthe people’s court.

Article 78 Under one of the followingcircumstances during the period of reorganization, the people’scourt shall, upon request by an administrator or an interestedparty, rule that the reorganization procedure should be terminatedand shall declare the debtor bankrupt:

(1) where the business operations and financialposition of the debtor continue to deteriorate and there is no hopeof retrieval;

(2) where the debtor indulges in fraud ormaliciously decreases his property, or commits any other act whichis obviously disadvantageous to his creditors; or

(3) where the debtor commits such an act as tomake it impossible for the administrator to perform hisduties.

Section 2 Formulation of and Approval for aReorganization Plan

Article 79 A debtor or administrator shall, withinsix months from the date when the people’s court rules that thedebtor should undergo reorganization, submit a draft plan forreorganization to the people’s court and the creditors’ meeting atthe same time.

Upon request made by a debtor or administratorbefore the expiration of the period as specified in the precedingparagraph and on justifiable grounds, the people’s court may rulethat the period should be extended for three months.

Where a debtor or administrator fails to submit adraft plan for reorganization on schedule, the people’s court shallrule that the procedure for reorganization should be terminated anddeclare the debtor bankrupt.

Article 80 Where it is the debtor who manages hisown property and business operations, a draft plan forreorganization shall be formulated by the debtor.

Where it is the administrator who is in charge ofmanagement of the property and business operations, the draft planfor reorganization shall be formulated by theadministrator.

Article 81 A draft plan for reorganization shallcontain the following:

(1) the debtor’s plan for businessoperations;

(2) classification of the creditors’claims;

(3) the plan for the adjustment of theclaims;

(4) the plan for payment of the claims;

(5) the period of time for implementing thereorganization plan;

(6) the period of time for supervising theimplementation of the reorganization plan; and

(7) other plans conducive to the debtor’sreorganization.

Article 82 For the creditors holding the followingcategories of the claims to attend the creditors’ meeting at whichthe draft plan for reorganization is to be discussed, they shall begrouped according to the following categories of the claims when avote is taken on the draft plan for reorganization:

(1) the secured claims on the debtor’s specificproperty;

(2) the wages, subsidies for medical treatment,injuries and disability and the pensions for the disabled and thefamilies of the deceased which the debtor owes, the basic old-ageinsurance premiums and the basic medical insurance premiums whichhe owes and fails to enter in the employees’ personal accounts, andthe compensations which should be paid to the employees asprescribed by relevant laws and administrativeregulations;

(3) the taxes the debtor fails to pay;and

(4) the common claims.

For a vote on the draft plan for reorganization,the people’s court may, when necessary, decide to form a group ofsmall-claim creditors under the category of the commonclaims.

Article 83 It shall not be stipulated in areorganization plan that the social insurance premiums which adebtor fails to pay, other than the ones which are specified underSubparagraph (2) in the first paragraph of Article 82 of this Lawshould be reduced or exempted. The creditor involved in the saidones shall not take part in the voting of the draft plan forreorganization.

Article 84 The people’s court shall, within 30days from the date when it receives a draft plan forreorganization, convene a creditors’ meeting for a vote on thedraft.

When more than half of the creditors in votinggroup for the same category of claims who are present at thecreditors’ meeting agree to a draft plan for reorganization andthey represent two-thirds or more of the total amount of the saidcategory of claims, the draft shall be deemed to be adopted by thegroup.

The debtor or administrator shall give anexplanation of the draft plan for reorganization at the creditors’meeting and answer inquiries.

Article 85 Representatives of the capitalcontributors of a debtor may, as non-voting participants, attendthe creditors’ meeting to discuss a draft plan forreorganization.

Where a draft plan for reorganization involves theadjustment of the rights and interests of capital contributors, agroup of capital contributors shall be formed to vote on thematter.

Article 86 When all the voting groups agree toadopt a draft plan for reorganization, the draft shall be deemed tobe adopted.

The debtor or administrator shall, within 10 daysfrom the date when the plan for reorganization is adopted, applywith the people’s court for approval of the plan. Where uponexamination, the people’s court deems that the application complieswith the provisions of this Law, it shall, within 30 days from thedate when it receives the application, decide to grant approval,terminate the procedure for reorganization and announceit.

Article 87 Where a draft plan for reorganizationis not adopted by some of the voting groups, the debtor oradministrator may consult with those groups. The said groups maytake another vote after consultation. The result of consultationshall not damage the interests of the other votinggroups.

Where a voting group that does not adopt a draftplan for reorganization refuses to take another vote on it or thedraft plan is not adopted even by a second vote but it meets thefollowing conditions, the debtor or administrator may apply withthe people’s court for approval of the draft plan:

(1) according to the draft plan forreorganization, the claims as specified in Subparagraph (1) underthe first paragraph of Article 82 of this Law will be paid in fullas far as the specific property is concerned, the losses caused bypostponed payment will be compensated for in a fair manner, and thesecured interests will not be substantially impaired, or the votinggroups concerned have adopted the draft plan forreorganization;

(2) according to the draft plan forreorganization, the claims as specified in Subparagraphs (2) and(3) under the first paragraph of Article 82 of this Law will bepaid in full, or the voting groups concerned have adopted the draftplan for reorganization;

(3) according to the draft plan forreorganization, the proportion for repayment of the common claimswill not be lower than that as allotted under the procedures forbankruptcy liquidation at the time when the draft plan is submittedfor approval, or the voting groups concerned have adopted the draftplan;

(4) in the draft plan for reorganization, therights and interests of capital contributors are adjusted in a fairand impartial manner, or the group of capital contributors hasadopted the draft plan;

(5) in the draft plan for reorganization, membersof the same voting group are treated fairly, and the order arrangedtherein for payment of the claims does not contravene theprovisions of Article 113 of this Law; and

(6) the debtor’s plan for business operations isfeasible.

Where upon examination, the people’s court deemsthat the draft plan for reorganization complies with the provisionsof the preceding paragraph, it shall, within 30 days from the datewhen it receives the application, decide to grant approval,terminate the procedure for reorganization and announceit.

Article 88 Where a draft plan for reorganizationis not adopted and is not approved according to the provisions ofArticle 87 of this Law, or a draft plan, though adopted, is notapproved, the people’s court shall rule that the procedure forreorganization should be terminated and shall declare the debtorbankrupt.

Section 3 Implementation of a ReorganizationPlan

Article 89 A reorganization plan shall beim

  

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