What is a bankruptcy administrator? What does it mean to be a bankruptcy administrator

It is to handle the relevant procedures for those who apply for bankruptcy.

Legal analysis: The bankruptcy administrator is a person appointed by the people's court to take over the bankrupt enterprise and be responsible for the safekeeping, liquidation, valuation, processing and distribution of the bankruptcy estate, and to be in charge of bankruptcy affairs while accepting the bankruptcy application in accordance with the law. The manager may be a liquidation group composed of personnel from relevant departments or institutions, or a lawfully established law firm, accounting firm, bankruptcy liquidation office, or other social intermediary organization.

The administrator is appointed by the people's court and is an organization independent of the creditors' meeting, the court and the debtor, and the bankruptcy administration of the administrator is a paid service, and the administrator should receive corresponding remuneration while performing his duties in accordance with the law. The remuneration of the administrator is a bankruptcy expense, and the standard shall be determined by the people's court. The manager shall perform his duties in accordance with the law, report to the people's court, and accept creditor's rights.

Supervision of the people's meeting and the creditor committee.

Legal basis: Article 22 of the Enterprise Bankruptcy Law of the People's Republic of China stipulates that the administrator shall be appointed by the people's court.

If the creditors' conference finds that the manager is unable to perform his duties in accordance with the law and impartially or has other circumstances that make him incompetent to perform his duties, it may apply to the people's court to replace him. The measures for appointing managers and determining the remuneration of managers shall be formulated by the Supreme People's Court.

The bankruptcy administrator refers to the bankruptcy case, under the direction and supervision of the court, to take over the debtor's property and other materials; Preparation of property condition reports; to determine the internal management of the debtor, the debtor's daily expenses and other necessary expenses; A specialized agency that decides on matters such as the continuation or cessation of the debtor's business.

[Legal basis].Article 25 of the Enterprise Bankruptcy Law of the People's Republic of China.

The Administrator performs the following duties:

1) Take over the debtor's property, seal, account books, documents and other materials;

2) Investigate the debtor's property status and prepare a property status report;

3) to decide on the internal management of the debtor;

4) Decide on the debtor's daily expenses and other necessary expenses;

5) Before the first creditors' meeting is convened, decide to continue or stop the debtor's business;

6) manage and dispose of the debtor's property;

7) Participate in litigation, arbitration or other legal procedures on behalf of the debtor;

8) propose to convene a meeting of creditors;

9) Other duties that the people's court finds the manager should perform. Where this Law has other provisions on the duties of managers, those provisions shall apply.