Research to Several Questions of China s Corporation Liquidation Legal System;

Dissolving and non-bankruptcy liquidation are basic systems in the legal system of a company.

Non-bankruptcy liquidation refers to procedures that dispose various unfinished affairs of the dissolved enterprise (beyond the reasons of bankruptcy ,merger or division ),terminate all legal relations centered on it and finally bring the enterprise legal persona to an end .

This paper,according to relevant laws and regulations,analyzes four closely related and quite important issues about bankruptcy liquidation in private institutions from legal and practical level,namely,the bankruptcy liquidation application of the law,the commencement of insolvency proceedings,the distribution order of the estate after bankruptcy and the resettlement of.

As the 2006 Bankruptcy Law adopts a 3-branch structure in terms of its procedural design,it must contain a common part and specific parts for the 3 branches,namely the Bankruptcy Liquidation Procedure,the Composition Procedure,and the Reorganization Procedure.

Since the promulgation of the Company Law and the Bankruptcy Law, it has been noticed that in certain occasions causes of bankruptcy arise while a company is going through the process of liquidation, which leads to the liability of the liquidators for bankruptcy application to the court and the succession of company liquidation to bankruptcy liquidation.

The liquidation of company,why nobody liquidates the company and there are many damages to the creditors and the other interested persons is that there are no enough clear and specific provisions on the shareholders liabilities in Company Law.