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Can an enterprise fail to repay bank loans

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Can an enterprise fail to repay bank loans


        

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  • 2024-06-07 09:01:37

    If an enterprise goes bankrupt, it must not repay the bank loan. If a bank's loan is not mortgaged, it is an ordinary bankruptcy claim, and the bankruptcy property shall be paid off after priority is given to paying off bankruptcy expenses, common interest debts, employee expenses in arrears, and taxes in arrears. If the bankruptcy property is not sufficient to pay off the claims in the same order, it shall be distributed proportionally.
    Legal basis: Article 113 of the Enterprise Bankruptcy Law of the People's Republic of China gives priority to the liquidation of bankruptcy expenses and co benefit debts, and the liquidation of the bankruptcy property shall be in accordance with the following order: (I) wages and medical treatment, disability subsidies, pension expenses owed by the bankrupt to employees, basic endowment insurance, basic medical insurance expenses that should be transferred into the personal accounts of employees, and laws Compensation that should be paid to employees according to administrative regulations; (2) The social insurance expenses and taxes owed by the bankrupt other than those specified in the preceding paragraph that are not paid by the bankrupt; (3) Ordinary bankruptcy claims. If the bankruptcy property is not sufficient to pay off the claims in the same order, it shall be distributed proportionally. The salaries of the directors, supervisors and senior managers of the bankrupt enterprise shall be calculated on the basis of the average salaries of the employees of the enterprise.

    A***

    2024-06-07 09:01:37

  • company law Relevant knowledge

  • law

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