What Is Business Failure?

Legal bankruptcy refers to the suspension of a business or store due to a loss. High taxes, poor sales, etc. caused the company to fail.

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Zheng Guanying's "The Threat of Life and Negotiation" quoted "Declaration on the Profits and Losses of Sino-Western Negotiations": "China's exports of silk tea are bulk products.
China's compensation for bankruptcy enterprises 'staff resettlement problems China's compensation for bankruptcy enterprises' staff resettlement problems
I. Article 17 (2) of the Labor Law stipulates that: "The labor contract shall be legally binding immediately upon the conclusion of the law, and the parties must perform their obligations under the labor contract." In order to implement the Labor Law, the former Ministry of Labor issued A series of supporting regulations, such as the Notice on the Full Implementation of the Labor Contract System, has since started to establish and operate a new employment system in China. Therefore, the labor relationship established between the employer and the employee according to law is protected by law. In the event of bankruptcy of an enterprise, the employee shall be resettled in accordance with the Labor Law and related regulations in respect of the resettlement of employees in accordance with the labor contract system. For an enterprise to go bankrupt, it is necessary to go through the formalities for the employee to terminate the labor relationship and provide resettlement compensation, instead of simply pushing the employee to the society and not properly resettlement. [2]
2. Due to the bankruptcy of the enterprise, the failure to perform the labor contract is the reason for the enterprise to cause damage to the employees. According to the principle of "compensation for damages", it is incumbent on the economic compensation to be paid, and it is natural for the employees to receive a certain amount of economic compensation. When formulating a bankruptcy plan, the bankrupt enterprise (liquidation team) and the competent department of the enterprise must, in accordance with the "Bankruptcy Law" and related policies, properly resettle employees of the bankrupt enterprise and maintain social stability. At the same time, according to the "Bankruptcy Law" and related policies, handle the formalities of termination of labor relations, and pay economic compensation in accordance with the original "Economic Compensation Measures for Violations and Termination of Labor Contracts" (Ministry of Labor [1994] No. 481) of the former Ministry of Labor. . The Supreme People's Court Provisions on Several Issues Concerning the Trial of Bankruptcy Cases of Enterprises (Fujian No. [2002] No. 23) clearly stipulates that the compensations enjoyed by employees who terminate their labor contracts due to bankruptcy of enterprises, the labor compensation of informal employees and the Employee fund-raising funds are listed as priority claims. [2]

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