How to treat tourism bankruptcy reorganization?

My views on the bankruptcy and reorganization of tourism are as follows:

First, bankruptcy reorganization is beneficial to employees.

Before declaring bankruptcy, all creditors' requests were frozen. After the bankruptcy declaration, due to the bankruptcy declaration, the right to claim and accept the definition of bankruptcy procedure rules. Article 20 of the Enterprise Bankruptcy Law of the People's Republic of China stipulates that after the bankruptcy application is filed, civil litigation or arbitration of the bankruptcy application has been initiated; After the administrator takes over the debtor's property, the lawsuit or arbitration will continue.

Secondly, there is no legal provision on how much money creditors can get back after the bankruptcy reorganization of enterprises, which is generally settled through consultation between creditors and bankrupt enterprises.

Enterprise Bankruptcy Law of the People's Republic of China

Article 79 The debtor or the administrator shall submit the draft reorganization plan to the people's court and the creditors' meeting at the same time within six months from the date when the people's court rules the debtor's reorganization.

If the time limit specified in the preceding paragraph expires and there are justified reasons at the application of the debtor or the administrator, the people's court may order an extension of three months.

If the debtor or the administrator fails to submit the draft reorganization plan on time, the people's court shall rule to terminate the reorganization procedure and declare the debtor bankrupt.

Article 80 Where a debtor manages its own property and business, it shall prepare a draft reorganization plan.

Where the manager is responsible for managing property and business affairs, the manager shall formulate a draft reorganization plan.

Finally, the advantages of bankruptcy reorganization of tourism.

1. Bankruptcy reform is a reorganization within the court, so it is mandatory. In other words, once the court accepts the bankruptcy reform, it will suspend all other lawsuits, such as the debt clearance Committee's funds can not be returned in time, or even the implementation of credit;

2. The characteristics of the market are more prominent. For example, bankruptcy reorganization puts forward the diversification of subjects. According to the provisions of the new bankruptcy law, not only debtors and creditors can apply for reorganization, but also debtors' shareholders can apply for reorganization under certain conditions. Then the new bankruptcy law introduced the company bankruptcy management system, which played a positive role in promoting the fairness, justice and goal realization of the reform process.

3. The reform measures are diversified, and debtors can flexibly use various measures allowed by restructuring to restore their business ability, repay their debts and carry out restructuring. If we not only delay repayment or reduce debt, we can also cancel the payment of shares, check or increase the registered capital of enterprises, convert creditors into shares, issue new shares or corporate bonds to specific targets, and transfer business and assets.