| [Member (365WT)]answers [Chinese ] | Time :2019-11-09 | 1. Applying for company restructuring: Generally, it can be proposed by the debt enterprise to the court, and it can also be proposed by the creditor;
2. If it is proposed by the creditor, it shall form a creditor committee and convene a meeting of creditors;
3. The reorganization plan is formulated by the creditors' meeting. The reorganization plan usually stipulates the following matters:
(1) The debtor’s reservation of the company’s property;
(2) the transfer of property to other entities;
(3) the merger of the debtor with other entities;
(4) the sale or distribution of property;
(5) Issuance of securities to obtain cash or to replace existing securities. |
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