About the CPA administrator to perform duties should focus on issues of concern

Introduction: With the PRC Enterprise Bankruptcy Law >> << implementation and bankruptcy cases pending establishment of the system administrator, the accounting firm as manager of corporate bankruptcy cases will be increasingly involved in bankruptcy cases for trial. In this paper, CPA administrator in the bankruptcy case of the conscientious performance of duty should focus on concerns about some superficial view.

One, to accept the appointment of staff reasonably selected

Firm accepts designated to act as administrator, should be served according to the court decision, the establishment of corporate bankruptcy cases managers project team to determine the person responsible for the project, and based on the complexity of bankruptcy cases selected project team composed of personnel.

Selected with relevant expertise and qualified personnel to practice as a manager of staff, is responsible performance of their duties to ensure firm. Managers need to fulfill the duties in accordance with requirements of managers involved in corporate bankruptcy cases A rationale, related to accounting, A meter, asset valuation, litigation, arbitration, auctions, property management, program development and business, and many other matters. Accordingly, the firm accept the designation should be based on the actual situation of bankruptcy cases reasonable staffing, if necessary, through the hiring of the profession and other social intermediary agencies or personnel to assist managers to perform duties, or you can appoint management personnel responsible for the debtor's business during the restructuring transaction.

Second, to take over the debtor's property intact, seals and books, documents and other information

In taking over the debtor's property, seals and books, documents and other data, the firm should be based on << >> Section 31 bankruptcy law provisions require the debtor to court accepts the bankruptcy application for at least one year prior to the books, and the books of the transfer , accounting documents, financial accounting reports and other accounting data verification, registration table made, handing. At the same time, attention should be collected from the debtor's property has been submitted to the court STATUS, list of debts, debt inventory, financial and accounting reports and related payment of wages and social insurance premiums paid situation, collecting mortgage assets, guarantee contracts, loan contracts, pledged collateral list, according to a breakdown of the assets of the debtor transferred, together with the debtor verification of physical assets associated personnel existential number to confirm the ownership of assets, usufruct and security interests, check debts, claims the book inventory balance and take possession Balance is consistent, a mortgage, secured assets existential quantity and pledged collateral lists are the same. pair has taken over the debtor's property, books, and other materials, staff employed by the Manager with the debtor together with the relevant personnel responsible for management, custody, and clearly related to management practices.

After taking over the debtor's property, the firm shall promptly organize relevant personnel status of the debtor's business, technical personnel composition, strict product production technology situation, the equipment in good condition, marketability as well as to investigate the profitability of sales, analysis, in order to decision to continue or stop the debtor's business.

Third, a comprehensive survey debtor's property status, property status reports produced

Firm takes over the debtor's property, books, documents and other information, the response to the debtor's property to conduct a comprehensive investigation, property status reports produced as soon as possible, in order to convene the first meeting of creditors to prepare information.

On the one hand, according to << >> Bankruptcy Law Section 31, Section 32, Section 33 and other relevant provisions of the relevant professional organizations which filed for bankruptcy of the debtor's financial position date and at least one year before the bankruptcy filing decision within finance income branch audit or review, the court accepts the bankruptcy debtor checked prior to the application within one year without gratuitous transfer of property, which is manifestly unreasonable prices for transactions, no property secured debt on the property to provide guarantees on debt outstanding advance or abandon the claim settlement behavior, check the court accepts the bankruptcy debtor within six months prior to the application without belonging to the debtor is unable to repay maturing debt and assets are insufficient to pay off all the debts or the apparent lack of liquidity, but still on the individual creditors settlement behavior, check whether the debtor hiding to escape debt, transfer of property act and fictitious debts or admit unreal debt behavior.

Conducting the audit or review, managers deal with the debtor owed workers wages and health care, disability benefits, pension costs owed shall be assigned to individual workers account the basic pension insurance, basic medical insurance costs, as well as legal and administrative regulations should be paid to the workers compensation decile 27 August 2006 (the new bankruptcy law << >> published recently (including due date and after 27 August 2006 owed can be investigated and publicized. should investors concerned about the debtor's situation contribution obligations set a security interest in the assets of the situation and will have a security interest in the assets and common property were inventoried.

The other hand, also in accordance << >> Section 48 bankruptcy law requirements, registration of creditors to file claims.

In an interview with the creditors to file claims, the creditors should be required to explain in writing the amount of the debt and the availability of secured property, and submit the relevant evidence for the claims of creditors against the debtor owe debts to creditors, bankruptcy law should be << >> Page 40 determine whether the provisions of offset claims administrator receives application materials should be inventoried, claims for review of the declaration, the preparation of claims form and submit verification of the first meeting of creditors, while the creditors' claims and declarations debtor's books to record the situation for comparison, and the results compared to inform creditors and debtors. contrast to the inconsistent results from the creditor and debtor sides through legal channels.

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Fourth, to strengthen during the bankruptcy case to-day management, control and supervision of benefits and bankruptcy costs were incurred debt

Bankruptcy case manager during the performance of its duties, it shall specify the court accepts an application for bankruptcy administrator onwards until the expiry of reforming supervision, monitoring reports submitted to the court administrator or the date of a meeting of creditors through the court approved a settlement agreement with the debtor claims of all creditors on debt deal with their own agreement, the Manager to the debtor transferred assets and business operations to the court a report submitted by the date of execution of duties or the court to terminate the bankruptcy proceedings, the bankruptcy administrator's original registration authority for cancellation of registration is completed The day ended, while accounting firm for the daily management duties to the debtor should be run through the entire enterprise bankruptcy procedures.

Meantime should note the following:

1 management, supervision of beneficial debt occurred, making it the most optimized due to the common interest debt can be property of the debtor any settlement, therefore, for the protection of creditors' legitimate rights and interests, the firm should strengthen the common benefit of debt management and supervision, and strive common benefit of creditors occurred most optimization, such as occur in line << >> 73 bankruptcy law provides that during the adjustment period, the debtor applies, the court granted the debtor under the supervision of the Manager to manage property and business affairs of the situation, "as the debtor to continue operating but should paid labor remuneration and social security expenses and other liabilities arising therefrom, "and other related benefits of the implementation of the debt principal debtor occurred, the firm should strengthen the supervision of benefit obligations may be necessary to send the debtor has extensive management experience and Trade expertise personnel assigned to the debtor's business, conducted before, during supervision.

(2) Follow the debtor during the restructuring operations and property status, such as found in the debtor's operations and property status continued to deteriorate, the lack of the possibility to save, or the debtor has acted fraudulently, maliciously, and other property of the debtor to reduce significantly the behavior is not conducive to the creditor, should be promptly requested the Court to terminate the reorganization procedure and declare the debtor bankrupt.

3 represent or assist the debtor in litigation, arbitration or other proceedings, the debtor detailed grasp of the legal relationship changes.

4 The registration of creditors' claims are not identified in the court reporting period, but in the bankruptcy declaration before the final distribution of property claims.

5 Management, pay the cost of bankruptcy, strive for minimizing controllable expenses.

Five, timely liquidation, good estate price change, distribution of work

In general, the court to declare the debtor bankrupt, the bankrupt bankruptcy and debt repayment program of work is the focus of corporate bankruptcy case managers work whether it is during this conversion plan of the estate or the estate distribution plan, have a direct relationship with the creditors and the debtor as well as the legitimate interests of enterprise employees, accounting firms should focus on the following

1 recruits qualified asset evaluation agencies to assess the estate. Unless the creditors' meeting on non-state-owned assets of the insolvency estate market prices and without objection, the consent of the court can not be assessed, the other before the estate shall be in constant prices evaluated.

(2) develop a conversion plan insolvency estate. Managers proposed conversion plan of the estate should help maximize the return on the estate. Generally, able to independently produce effective production line, assembly line should be the overall realization of market liquidity is strong, second-hand equipment market is active single universal device should sell for special equipment may be considered "package" transfer of houses, buildings and their corresponding land use contingency price, such as state-owned land use right transfer, assignment obtained should be taken "real one" realized, such as state-owned land use right obtained by allocation, as companies go bankrupt, the relevant government can be recovered, should houses, buildings and obtained through allocation of state-owned land use rights were sold.

Of patents, trademarks, industrial technology, intangible assets such as proprietary technologies, such as with the ability to independently produce effective production line, assembly line strong correlation should be with the production line, assembly line with the transfer.

Since the whole or part of the estate at a sale price change made Bianjiashouru may include a security interest in the property, therefore, the insolvency estate price change made Bianjiashouru To illustrate a security interest in the property and non-property security interests the division between method and basis.

If the estate price change by way of auction, estate price change scenarios should describe the auction reserve price and the auction method for determining agency.

If the estate does not have to follow state regulations auction or restrictions on the transfer of the property, the estate becomes the price of the program part of the property should be listed separately and in accordance with national regulations described approach can be taken.

3 Elaboration of the estate distribution plan. Managers in developing the estate distribution plan should pay attention to:

(1 although << >> Bankruptcy Law Section 109 provides for a specific property of the bankrupt's right to security right person for that particular property enjoys a right of first refusal, but also the provisions of section 132 of this Act bankrupt the date of publication (August 27, 2006 (including the date of the wages owed to the employees and medical care, disability benefits, pension costs owed shall be assigned to individual accounts of employees of the basic pension insurance, basic medical insurance costs, and legal, administrative regulations of the compensation paid to employees in accordance with the provisions of section 113 of this Act, after not sufficient to repay part of the settlement, to the provisions of Article 109 of the particular property takes precedence over the provisions of the particular property security rights enjoyed by people compensation, therefore, in the elaboration of the estate distribution plan, should bankrupt in August 27, 2006 the wages owed to the employees and medical care, disability benefits, pension costs owed shall be included in the basic old-age employees' personal accounts insurance, basic medical insurance costs, as well as legal and administrative regulations shall be paid to the workers compensation order of priority in the allocation of the bankrupt's property enjoys a particular security right person. (2 pairs of bankrupt state-owned land use rights enjoyed security rights of people, should be based on Fashi [2003] No. 6 "If business obtained through allocation of state-owned land use right mortgage is set to fulfill the statutory A batch procedures, and apply for a mortgage registration law, the mortgagee people only in the subject matter of mortgage discount or auction, sale proceeds from rent equivalent to the land use right transfer fee payment, in order to enjoy the remaining part of the priority claim "requirement, will be paid the equivalent of land use right transfer fee Priority payments in escrow.

4 firm after the end of the last assignment shall promptly submit to the court the estate distribution reports and drew people's court to terminate the bankruptcy proceedings.

5. Firm shall from the date of termination of bankruptcy proceedings within 10 days of the end of the insolvency proceedings held court ruled that the bankrupt's original registration authority for cancellation of registration while under Fashi [2002] No. 23, Article 99 provides for the transfer of takeover of the original books, documents and other information.

6 firm after termination of their duties, in the performance of their duties should be formed during the various inventories, plans, reports, programs, and other legal instruments, file materials prepared for the archives, the formation of working papers for future reference.

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