If the JVC becomes bankrupt or is the subject of proceedings for liquidation or dissolution by reason of insolvency or ceases to carry on business or becomes unable to pay its debts as they become due; 如果合营公司破产、因资不抵债而进入清算程序或解散、或终止其业务或无力支付到期债务;
To the extent that the company is able to repay its debts, it respectively pays all liquidation expenses, wages of staff and workers, labour insurance fees and taxes owing, and shall repay the company's debts. 公司财产能够清偿公司债务的,分别支付清算费用,职工工资和劳动保险费用,缴纳所欠税款,清偿公司债务。
The remaining property after liquidation of the debts of the joint venture shall be distributed to the parties in proportion to their capital contribution, unless otherwise provided for in the joint venture agreement, contract or articles of association. 合营企业清偿债务后的剩余财产按照合营各方的出资比例进行分配,但合营企业协议、合同、章程另有规定的除外。
Reorganization refers to the reconstructive liquidation system of Insolvent Corporation, which adjusts its debts and reorganizes its enterprise to ensure its ongoing management, then shuffle off the trouble to achieve renaissance of itself eventually. 公司重整是指公司无力偿债的情况下,依照法律规定的程序,保护公司继续营业,实现债务调整和公司整理,使之摆脱困境,走向复兴的再建型债务清理制度。
There are several issues are mainly involved in this period. For instance, the division of unmarried cohabitation property, the liquidation of debts processing, the financial compensation and livelihood assistance and the compensation of damage. 在此期间涉及非婚同居财产的分割和清算、债权债务的处理、经济补偿和生活帮助、损害赔偿等。