How to liquidate the assets of bankrupt enterprises?

Hello, my friend! When the enterprise has reached an unsustainable level, it will naturally go through bankruptcy liquidation, which often means that the enterprise has encountered the following problems in its development:

First of all, when an enterprise as a legal person is unable to pay off its due debts and its assets are insufficient to pay off all its debts, it is very likely that it will apply for bankruptcy liquidation according to law. In particular, some companies may be liquidated if they are unable to pay off their due debts and their assets are not enough to pay off all their debts, but they are not liquidated or their assets are not enough to pay off their debts.

However, Article 2 of the Enterprise Bankruptcy Law clearly stipulates that if an enterprise as a legal person is unable to pay off its due debts, its assets are insufficient to pay off all its debts, or it obviously lacks solvency, and if an enterprise as a legal person has the circumstances specified in the preceding paragraph or obviously loses its solvency, it may be reorganized in accordance with this Law. Article 7 The debtor may apply to the court for reorganization or bankruptcy liquidation under the circumstances specified in Article 2 of this Law. If the debtor is unable to repay the due debt, the creditor may apply to the court for reorganization or bankruptcy liquidation of the debtor. If an enterprise as a legal person has been dissolved, but the assets that have not been liquidated or liquidated are insufficient to pay off the debts, the person liable for liquidation according to law shall apply to the court for bankruptcy liquidation.