insolvency liquidation

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；

Insolvency liquidation is the foundation and core of bankruptcy law, which functions as transition in bankruptcy programme.

破产清算是破产法的基础和核心，在破产程序中有着“承上启下”之功能。

It focuses on not how to not apply to the insolvency liquidation procedure, But how to make the insolvent or being insolvent corporation rehabilitation and better, and to protect the interests of stockholders and creditors and staffs and so on.

其注意力，不在于如何避免适应破产清算程序，而在于使有破产危险的公司尽快复苏和壮大，从而保护股东、债权人、职工等各方面的利益。