If the company goes bankrupt, what is the order of repayment of the creditor s rights after the comp

Lawyer Zhao Hongyan Lawyer Zhao Hongyan answered:

Hello, in accordance with the provisions of the Enterprise Bankruptcy Law of the People's Republic of China (Trial), bankruptcy claims shall be repaid in the following order:

1. Pay off the wages, social labor insurance premiums and statutory compensation of employees;

2. Pay the tax owed;

3. Settle the company's debts;

4. Distribute according to the proportion of shareholders' capital contribution.

Until the claims of the previous order are not fully repaid, the claims of the latter order shall not be distributed. If the bankruptcy estate is insufficient to pay off the repayment claims in the same order, it shall be repaid to the creditors in the same proportion.

In addition, the repayment order of bank loans depends on whether there is no property security and whether the priority is exercised.

The Provisions of the Supreme People's Court on Several Issues Concerning the Trial of Enterprise Bankruptcy Cases also point out that the living expenses and medical expenses of employees during the liquidation period may be paid on a priority basis from the bankruptcy estate.

What is the order of compensation for the bankruptcy liquidation of the company?

After the company (i.e. your debtor) files for bankruptcy liquidation, you can declare your claims to the administrator as a creditor. If the company is declared bankrupt, your claim becomes a bankruptcy claim. The company's property shall be liquidated in the following legal order after the liquidation of the property:

1) The wages and medical treatment, disability allowance and bereavement expenses owed by the bankrupt person to the employees, the basic endowment insurance and basic medical insurance expenses that shall be transferred to the personal accounts of the employees, and the compensation that shall be paid to the employees according to laws and administrative regulations;

2) the social insurance premiums owed by the bankrupt person other than those provided for in the preceding paragraph and the taxes owed by the bankrupt person;

3) Ordinary bankruptcy creditor's rights.

Legal Analysis: The order of repayment of a company's bankruptcy debts is to pay off the debts in the following order:

1.Wages and labor insurance premiums owed by bankrupt enterprises 2Bankrupt companies take the tax arrears 3Bankruptcy claims.

The basis of the law of the law of the law of the volcanic type:

Company Law of the People's Republic of China Article 187 If the liquidation team finds that the company's assets are insufficient to pay off its debts after cleaning up the company's property and compiling the balance sheet and property list, it shall apply to the people's court for a declaration of bankruptcy in accordance with the law.

Legal analysis or laughter: The order of the company's debt repayment is to pay off the debt in the following order:

1.Wages and labor insurance premiums owed by bankrupt enterprises 2Taxes owed by bankrupt businesses3Bankruptcy claims.

Legal basis: Article 187 of the Company Law of the People's Republic of China If the liquidation team finds that the company's assets are insufficient to pay off its debts after cleaning up the company's property and compiling the balance sheet and property list, it shall apply to the people's court for declaration of bankruptcy in accordance with the Tandong Law.

The order of repayment of bankruptcy claims is as follows: bankruptcy expenses and common debts, wages owed by bankrupt enterprises to employees, five insurances and one housing fund, etc., taxes owed by bankrupt enterprises, and wide and dusty bankruptcy claims. If the bankruptcy claims are prudent and the bankruptcy claims are insufficient to pay off the repayment claims in the same order, they shall be distributed proportionally.

Legal basisArticle 113 of the Enterprise Bankruptcy Law of the People's Republic of China.

The bankruptcy estate shall be paid off in the following order after the bankruptcy expenses and common debts have been paid off first:

1) The wages and medical treatment, disability allowance and bereavement expenses owed by the bankrupt person to the employees, the basic endowment insurance and basic medical insurance expenses that shall be transferred to the personal accounts of the employees, and the compensation that shall be paid to the employees according to laws and administrative regulations;

2) the social insurance premiums owed by the bankrupt person other than those provided for in the preceding paragraph and the taxes owed by the bankrupt person;

3) Ordinary bankruptcy creditor's rights.

If the bankruptcy estate is insufficient to satisfy the claims in the same order, it shall be distributed proportionately.

The salaries of the directors, supervisors, and senior management personnel of a bankrupt enterprise shall be calculated on the basis of the average wages of the employees of the enterprise.

Legal analysis: In the bankruptcy of a company, after the bankruptcy expenses and common debts are paid off first, the order of repayment is the wages, social insurance premiums and economic compensation owed to the employees; tax owed; Ordinary bankruptcy claims.

Legal basis: Article 41 of the Enterprise Bankruptcy Law of the People's Republic of China The following expenses incurred after the people's court accepts the bankruptcy application are bankruptcy expenses: (1) Litigation costs of bankruptcy cases; (2) the costs of managing, valuing and distributing the debtor's property; (iii) the expenses and remuneration of the manager for the performance of his or her duties and the expenses of the staff members of the Office of Engagement.

Settlement of bankruptcy claims. If the bankruptcy estate is insufficient to pay off all bankruptcy expenses and common debts, the bankruptcy expenses shall be paid off first.

1) The wages and medical treatment, disability allowance and pre-draft pension expenses owed by the bankrupt person to the employees shall be transferred to the personal accounts of the employees, as well as the compensation that shall be paid to the employees according to laws and administrative regulations;

2) the social insurance premiums and taxes owed by the bankrupt person other than those provided for in the preceding paragraph;

3) Ordinary bankruptcy claims.

If the bankruptcy estate is insufficient to pay off the repayment claims of the same order, it shall be distributed proportionately.

The order of repayment of the bankruptcy estate is as follows: 1. Priority is given to the repayment of bankruptcy expenses and common debts; 2. Then pay off the wages owed by the bankrupt to the employees, medical treatment, disability allowance and bereavement expenses; 2. Repay the social insurance premiums owed by the bankrupt person and the taxes owed by the bankrupt other than those specified in the preceding paragraph; 3. The final repayment is the ordinary bankruptcy creditor's right.

Enterprise Bankruptcy Law of the People's Republic of China

Article 113.

After the bankruptcy estate has priority in paying off the bankruptcy expenses and common debts, it shall be repaid in accordance with the following order:

1) The wages and medical treatment, disability allowance and bereavement expenses owed by the bankrupt person to the employees;

The basic endowment insurance and basic medical insurance expenses that shall be transferred to the personal account of the employee, as well as the compensation that shall be paid to the employee according to laws and administrative regulations;

2) the social insurance premiums owed by the bankrupt person other than those provided for in the preceding paragraph and the taxes owed by the bankrupt person;

3) Ordinary bankruptcy claims.

Where the property is insufficient to satisfy the claims in the same order, it shall be distributed proportionately.

The salaries of directors, supervisors and senior managers of a bankrupt enterprise shall be calculated on the basis of the average wages of the employees of the enterprise.