The liability of shareholders in liquidation is mainly stipulated in Articles 18, 19 and 20 of Interpretation II of the Company Law, namely "non-liquidation and cancellation", "delayed liquidation" and "illegal liquidation".

As an important subject of the current business society, one of the important characteristics of the company is that its shareholders are liable to the company up to the amount of subscribed capital contribution. However, in practice, it is precisely because of this understanding that the relevant entities (liquidation obligors) do not pay enough attention to the statutory procedures for the liquidation and cancellation of the company after the reason for dissolution arises.

In an acquisition for the purpose of obtaining control, there should be two important signs for investors to complete the acquisition: first, change the register of shareholders (or articles of association) to achieve legal control; Second, transfer seals, replace personnel in core positions, etc., to realize the transfer of operating rights on the entity.

The bankruptcy reorganization draft has been approved, and the enterprise has entered the implementation period of the bankruptcy reorganization draft. After amending the shareholder register (or articles of association) and the investor achieving legal control, timely taking over and continuing to effectively utilize the assets of the reorganized enterprise and completing the takeover of the operating rights of the reorganized enterprise play an important role in repaying claims, safeguarding the rights and interests of investors, and restoring the operation of the reorganized enterprise.

As a production and operation plan in the process of enterprise restructuring, the implementation of the restructuring plan can be affected in practice due to adjustments in national regulations and policies, price adjustments of raw materials or products, breach of contract by the other party, claims, sudden epidemics, force majeure events, etc. For the restructuring plan, it is difficult to strictly follow the plan.

Contingent liabilities are potential obligations formed by an enterprise's past transactions or events, the existence of which must be confirmed by the occurrence or non-occurrence of uncertain future events;

After an enterprise enters the bankruptcy reorganization procedure, it often faces restrictions on many business matters such as bank loans, registration, and qualification review due to the impairment of corporate credit, making it difficult to carry out new production and business activities. To avoid falling into operational difficulties again, the credit repair of bankrupt and reorganized enterprises is particularly important.

For claims not declared in the reorganization procedure, if the creditor has not had their claims confirmed by the bankruptcy administrator and the court, nor participated in the creditors' meeting to vote on the draft reorganization plan, does this mean that the undeclared claims cannot continue to be claimed for repayment upon the conclusion of the reorganization plan?

In the process of enterprise bankruptcy reorganization, properly handling employee claims is an extremely important step. According to Article 113 of the Enterprise Bankruptcy Law of the People's Republic of China, their priority of repayment is second only to bankruptcy expenses and common benefits debts, and the most common type of employee claims is the issue of economic compensation to original employees.

After a court rules on bankruptcy reorganization, an enterprise will be affected by many factors during the reorganization process. Different factors will have different impacts on the effect of the reorganization. Only by paying attention to these factors affecting the reorganization effect and correctly grasping their impacts can the smooth progress of the reorganization be ensured and the enterprise be promoted to resume normal production and operation.

In an enterprise bankruptcy reorganization project, if the draft reorganization plan fails to pass the deliberation of the creditors' meeting, does it mean that the draft reorganization plan has ultimately not been approved and the enterprise has to enter the liquidation procedure? Actually, this is not the case. According to the relevant provisions of the Enterprise Bankruptcy Law of the People's Republic of China, the people's court may compulsorily rule to approve the draft reorganization plan if certain conditions are met.

Bankrupt enterprises adopting the reorganization approach need to pay attention to the issue of high taxable income generated by the bankrupt enterprise as a result. Conducting tax planning in advance and considering how to reduce the tax burden of the bankrupt enterprise from the perspective of business operations is a major issue that bankrupt enterprises need to focus on during the reorganization process. Combined with China's existing tax policies, the main aspects to focus on are as follows: