A Study Of The Bankruptcy Of The Hengyang Yian Material Group Corporation

Bankruptcy is also known as a "straight" bankruptcy,namely,which means according to the laws the debtor can clear off its debts by liquidating its assets or converting them to cash for distribution among the creditors.Along with the deepening of the market economy,the in-depth research on the bankruptcy of the company is becoming increasingly sophisticated.In this paper,the Hengyang YiAn Material Group Corporation have been selected for a case-study.Taking into consideration of the background of the reformation and opening-up then in China,this paper,based on some bankruptcy-related theories and the in-depth root cause analysis of the bankruptcy and other problems,makes a deep study on the principles,the process,the solutions and a series of social security system,safeguard measures for this company bankruptcy propsoal.Finally this paper addresses some problems to which we should pay attention from the viewpoint of the effiency of the implementation of this bankruptcy procedual choice.Comprehesively considering the actual situation of the company and the background of the times and the national policies in an organic combination,this bankruptcy system also includes an overall plannig for the property protection and staff resettlement and follow-up development of the company.Its establishment and running will allow the company to be released wholly from a debt owed,and effectively lay a solid foundation for the future development.