Research On Liquidation Of No-bankruptcy About China's Corporation

A　corporation　should　be　freewill　to　choose　expand　or　quit　in　an　orderly　marketable　circumstance。　People　now　devote　a　lot　of　passion　on　admittance　of　the　market　about　corporation,　but　neglect　the　mechanism　of　quitting　the　market.　The　active　disbandment　laws　of　our　country　mostly　concern　the　bankruptcy　of　the　corporation,　while　bankruptcy　is　not　the　only　reason　of　the　corporation's　disbandment.　Expiration　of　a　corporation's　term,　running　into　deadlock,　the　shareholders　deciding　to　shut　the　corporation　down　or　the　corporation　is　abolished　its　business　licence　can　all　lead　a　corporation　to　disbandment.　This　very　process　concerns　the　interest　of　shareholders,creditors　and　the　employees.　So　particular　legislation　is　necessary,　while　the　legislation　now　has　too　much　deficiency.　In　the　first　chapter,　the　author　starts　with　the　concept　of　liquidation,　introduces　the　basic　meaning　of　no-bankruptcy　liquidation,　analyzes　the　reasons　that　lead　the　corporation　to　liquidation,　discusses　the　value　of　no-bankruptcy　liquidation　system;　then　the　author　analyzes　the　presenting　legislation　about　no-bankruptcy,　and　points　out　that　blurry　concepts　and　responsibility　also　make　the　presenting　process　of　liquidation　disordered.　The　second　chapter　is　about　the　responsible　person　for　liquidation.　The　author　thinks　that　the　responsible　person　for　liquidations　in　the　limited　liability　company　are　all　the　shareholder;　while　in　the　joint-stock　limited　company　are　the　shareholders　who　send　deputies　to　the　company　shareholder's　meeting,　board　of　supervisors,　or　as　the　senior　executives　of　the　company.　The　author　distinguishes　the　responsible　person　for　liquidation　from　liquidator,　and　thinks　that　the　one　who　can　claim　the　responsible　man　for　liquidation　should　extend　to　the　debtor,shareholders　and　the　employees.　In　some　conditional　circumstances,　they　all　can　go　to　court　and　ask　the　responsible　man　to　take　on　his　responsibility.　If　the　responsible　person　doesn't　liquidate　the　corporation　timely　and　make　the　debtors,shareholders　and　employees　suffer　loss,　he　should　compensate　for　that.　The　third　chapter　is　about　the　liquidator.　The　author　means　we　should　unify　the　names　about　that,　stipulate　its　connotation　and　legal　station.　During　the　liquidation　period,　the　liquidator　is　a　"legal　temporary　organ".　We　should　establish　the　rule　that　liquidators　are　normally　nominated　by　the　shareholders'　meeting.　Only　in　necessary　conditions　can　the　court　appoint　liquidators.　As　liquidation　concerns　many　people's　interests,　we　must　make　some　restrictive　qualifications　for　the　liquidators.　If　it　is　possible,　professional　liquidator　system　can　also　be　introduced　into　our　country's　liquidation　practice.　The　relationship　about　no-bankruptcy　disbandment　and　liquidation　is　discussed　in　the　forth　chapter.　If　the　corporation's　legal　person　　qualification　still　exists　when　it　go　into　disbandment?　How　can　the　corporation　exerts　its　shareholder's　rights　in　other　corporations?　These　questions　need　making　out.　At　the　same　time,　licence　revoked　by　the　government　makes　many　corporation　go　into　disbandment,　how　to　liquidate　it　with　a　common　liquidation　process,　how　to　liquidate　it　with　a　special　liquidation　process　and　how　to　treat　with　the　relationship　between　bankruptcy　liquidation　and　special　liquidation　process　are　also　discussed.　After　some　contrast　between　them,　the　author　considers　that　special　liquidation　process　can　be　competent　for　liquidation　when　we　find　out　that　the　corporation's　assets　can　not　discharge　its　liabilities　instead　of　declaring　it　is　bankrupt　and　starting　another　new　bankruptcy　liquidation　process.　　The　last　chapter　is　the　sum-up　of　the　thesis.　The　author　considers　we　should　clarify　some　concepts　in　the　liquidation　process,　stipulate　judicial　liquidation　system,　consummate　the　special　liquidation　process.　We　should　also　make　sure　the　beginning　and　lasting　time,　of　no-bankruptcy　liquidation.　Besides　these,　we　should　also　make　some　restrictions　on　the　debtors,　if　they　don't　declare　their　rights　within　legal　period,　they　must　bear　the　result　of　losing　right.　As　the　article　person　exists　or　not　is　in　dispute,　we'd　better　separate　it　into　two　licence:　one　for　article　person;　on　for　business　qualification.　The　department　in　charge　affects　the　schedule　of　liquidation　a　lot,　so　it's　important　to　clarify　it.　The　author　advises　we　should　confirm　the　administration　for　industry　and　commerce(AIC)　as　the　department　in　charge　during　common　liquidation　process.　The　AIC　mainly　takes　charge　in　ascertaining　the　responsible　person,liquidation　term　and　supervising　the　liquidation　result　when　every　thing　is　over.　During　the　special　liquidation　process,　the　court　should　be　the　department　in　charge,　accept　the　lawsuit　of　related　parts,　appoint　liquidator　and　supervise　the　liquidation　process.