| Summary: | 碩士 === 國立雲林科技大學 === 企業管理系碩士班 === 97 === In Taiwan the legal norm applying to the scheme of Liquidation and Bankruptcy is the exit mechanism for the eradication of the corporate personality. Most of the top managers do not understand how to precede the scheme of Liquidation and Bankruptcy and their regulations when they have to close up a company. Therefore, the incomplete process of Liquidation and Bankruptcy results in unfinished liquidation, and the termination of the bankruptcy. The top managers, showing a lack of responsibility, allow the firm to go bankrupt creating a chain reaction, which affects the development in the socio-economy.
According to literature, the specific and feasible procedures which are transformed from the abstract rules and regulations in this study will be present. The pros and cons of two procedures will be analyzed as well. Furthermore, eight typical cases chosen are discussed separately. The discussion includes the difficulties in executions, and problems generated during the process. Finally, the procedure of an easy and simple diagnosis of the scheme of Liquidation and Bankruptcy is set up. The procedure is expected to help the top managers to understand the legal procedure of closing companies. Moreover, the law applied for the scheme of Liquidation and Bankruptcy is likely to become a tool of management. In other words, if the top managers want to end the liquidation of corporate personality sufficiently and smoothly, they need to evaluate themselves and then make a plan in accord with the terms and conditions and the official operation of the scheme of Liquidation and Bankruptcy
The results of this study show that four types of issues named appear in both liquidation and bankruptcy proceedings. They are "the issue of the people or authorities", "the issue of assets and liabilities", "the tax issues", "the issue of the effective procedure”. They will influence the procedure of the eradication of the corporate personality.
The uncertain shareholders, the dissatisfaction of statutory members and the difficulty of the Liquidator are the main features in the issue of people and authorities of the system of bankruptcy. The issue of assets and liabilities is discussed in terms of the difficulty on property inspection and the diversity of property. The "tax issue" evaluates the difficulties of application for high value refunds, decisions with regards to the right time for the reporting of the liquidation declaration and of recognition of the property value. Moreover, the differences between pre book and pre audit and the differences between financial accounting and tax accounting are drawn. In the issue of effective procedure, there are pragmatic difficulties that affect the outcome after Liquidation or the illegitimate ending of Liquidation.
In the system of "the issue of the people or authorities", it includes the status of the insolvent cooperation, the time spent in the court, the ex officio investigation. It also involves the extent of assets and liabilities which trustees in bankruptcy can have in hand, and affairs which trustees in bankruptcy cannot accomplish due to their capability. In addition, in the creditor’s meeting, it considers whether the vote can be carried out or not by the trustees in bankruptcy, the first priority of creditors and the representatives of the juridical person and so on. The matters of election of the legal representative people and supervision of the legal representative people also will be stated.
"The issue of assets and liabilities" covers the difficulty of examining property, such as confidential property information, the lack of commercial knowledge, the malicious trust, and the vagueness on the rights of the property. The difficulty on handling and managing the property such as the loss and the maintenance of the property, and property occupancy are included. Moreover, the procedure of the bankruptcy is likely to be influenced by the option of the first priority.
As far as the tax issues are concerned, the bankruptcy fees involve the business tax of the first priority’s buildings. And the actual profit relating to the Tax Administration is gained by auditing books and accounts of the bankrupt firms. Furthermore, The Administrative Enforcement Agency terminates the bankrupt execution of the firm. As to the issue of the effective procedure it engages in the right to request the debt at the end of the bankruptcy, the property safety after the end of the bankruptcy and legal time to apply in the right to request in debt.
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