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Corporate Service - China

Question

Q&A Regarding Enterprise Deregistration (3)

Answer
Q:
How to release liquidation group information?
A:
The liquidation group shall release the liquidation group information through the national enterprise credit information publicity system within 10 days from the date of its establishment.

Q:
How to release a creditor announcement?
A:
The liquidation group shall notify the creditors within 10 days from the date of establishment and release the creditor announcement to the public through newspapers or the national enterprise credit information publicity system according to law within 60 days.

Q:
How long shall the creditor announcement period last?
A:
The creditor announcement period lasts for 45 days.

Q:
What does the liquidation activity include?
A: Liquidation activities include: liquidation of company property; handling of the company's unsettled business related to liquidation; payment of fines and penalties; payment of taxes and go through relevant procedures; clearing up claims and debts; dealing with the remaining property after the company has paid off its debts, etc.

Q:
What needs to be done after liquidation?
A: After the liquidation is completed, the liquidation group shall prepare a liquidation report, submit it to the shareholders' meeting, the shareholders' general meeting or the people's court for confirmation, and submit it to the company registration authority, apply for deregistration of the company, and announce the termination of the company.

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