The debtor or creditors in accordance with the law, directly to the people's court for to restructure the debtor. The examination of the people's court that reorganization application conforms to the provisions of this law, the award debtor reforming, and shall make a public announcement. After the people's court to reorganization proceedings terminated the debtor reforming day, for the period of reorganization.
During the period of reorganization, the debtor to apply, the approval of the people's court, the debtor can manage their own property under the supervision of the administrator and business affairs; specific property of the debtor shall guarantee the right to suspend the exercise; debtor's investor may not request for the investment income distribution.
The management of property and business affairs to the debtor, making the draft restructuring plan by the debtor. The management responsible for the management of property and business affairs, making the draft restructuring plan by the administrator. The debtor or the administrator shall a people's court within six months from the date of the reorganization, submit the draft restructuring plan to the people's court and the creditors conference at. The people's court shall receive the draft restructuring plan within thirty days from the date of the convening of a meeting of creditors, to vote on the draft restructuring plan. The reorganization plan by the date of ten days, the debtor or the administrator shall give approval of the reorganization plan to apply to the people's court. The people's court ruled that the approval of the reorganization plan, per capita is binding on the debtor and all the creditors.
The reorganization plan by the debtor performs. The people's court approved the restructuring plan, has taken over the property and business affairs should be handed over to the debtor's property and business affairs. After rectification, the enterprise can be in accordance with the restructuring plan to pay off the debts, the people's court shall terminate the bankruptcy proceedings for the enterprises and public announcement. Debt relief in accordance with the restructuring plan, the reorganization plan execution is completed, the debtor shall no longer bear the liability.

　　The above software automatic translation content does not meet your needs?

　　Give me a message or call: +86 10 62530048