the remaining businesses of the company;
4. To pay taxes overdue;
5. To clear credits and debts;
6. To dispose the remaining assets after all the debts are paid off;
7. To participate in civil proceedings on behalf of the company.
Article 194 The liquidation group shall, within ten days after
its
establishment, notify the creditors and make
a public announcement in newspapers at least three times within
60 days. Creditors shall declare their credits with the liquidation
group within 30 days after the notifications received or within
90 days starting from the date of the first announcement in cases
in which notifications have not been received.
In declaring credits, creditors shall specify
the relevant matters about the credits and
provide verifications. The liquidation group shall registered the
credits.
Article 195 After clearing the assets and compiling the
balance sheet and list of assets, the liquidation group shall
formulate a liquidation plan and submit it to the meeting of
shareholders or department in charge for confirmation.
If the assets of the company are sufficient for payment of
debts, the assets may be used to pay the liquidation fee, the
wages and labor insurance fees of workers, taxes overdue and clear
debts.
The remaining assets after liquidation according to
the preceding paragraph can be distributed to shareholders
according to their proportion of investment in the case of a
limited liability company and according to the proportion of
shares held by the shareholders in the case of a joint stock
company limited.
During the period of liquidation, the company shall not engage
in new operating activities. The assets of the company may not
be distributed to shareholders the assets before payments be
made in accordance with provisions in second paragraph of this article.
Article 196 If after clearance of the assets and compilation of
the
balance sheet and list of assets of a company to
be liquidated due to dissolution or liquidation, the assets of
the company are found to be insufficient for the debt payments,
the liquidation group shall immediately apply for
declaration of bankruptcy of the company with the people's court.
If the company has been declared bankruptcy by the people's
court, the liquidation group shall hand over the liquidation
affairs to the people's court.
Article 197 After the liquidation, the liquidation group
shall compile a liquidation report and submit it to the
meeting of shareholders or department in charge for
confirmation and to the registration department for canceling
registration of the co上一页 [1] [2] [3] [4] [5] [6] 下一页
|
