Research On The Bankruptcy Reorganization Plan Of RHY Pharmaceutical Company

Economic environment is changing rapidly,and the science and technology are constantly improving,which will inevitably bring more challenges and greater pressure to enterprises.In the cruel business environment,if managements make a wrong decision,the enterprises will face the whole lose serious situation and the bankruptcy is inevitable.Bankruptcy brings a heavy blow not only to the enterprises,but also affects all stakeholders,including the society and the industry.Therefore,bankruptcy reorganization will be the only way for enterprises to get rid of financial difficulties and reduce the social burden.At present,our country enterprise's bankruptcy reorganization has also obtained certain achievements,but it also has many problems in the reorganization process and the reorganization management.From the perspective of the whole bankruptcy reorganization process,the bankruptcy reorganization plan is the core,which determines the substantive process of the enterprise getting rid of the predicament.In consequence,the establishment of bankruptcy reorganization plan,according to the characteristics of distressed enterprises and the status quo of enterprises,is the cornerstone and the key to get rid of the financial difficulties,winning quality funds,improving the operation mode and management ability.From the perspective of bankruptcy reorganization,the thesis takes RHY pharmaceutical company's bankruptcy reorganization plan as the research object.Firstly,the thesis expounds the relevant theories of bankruptcy reorganization,which paves the way for the following analysis of RHY pharmaceutical company's bankruptcy reorganization plan.Secondly,it analyzes the dilemma faced by RHY pharmaceutical company and its own economy,and selects and sorts out part of the bankruptcy reorganization plan.Then,combining the theory with the practice and aiming at the reality of RHY pharmaceutical company and the restructuring party,the paper finds a series of problems: the investor completely lost its equity,the heavy tax burden of RHY pharmaceutical company,the HTL company did not have the synergistic effect of the management,and the capital provided was insufficient to support the operation after the restructuring.As for a series of problems mentioned above,which are not conducive to the smooth implementation of the plan and not suitable for the integrated operation of RHY pharmaceutical company,the following reasons are analyzed in this paper: the lack of checks and balances between the interests of the investors and the creditors,the repayment ratio of ordinary creditor's rights is too low and the payment method of the restructuring funds is too single,the RHY company do not evaluate the reforming party's qualification,the restructuring funds are insufficient to support their recovery until they make profits.Finally,aiming at the above problems,the paper gives several suggestions in four aspects of the plan of the bankruptcy reorganization: interest balance,implementation costs,participants and sources of funds,so that it can improve the effectiveness and substantial of the bankruptcy reorganization plan,and then increase the success rate of the bankruptcy reorganization,truly achieving the goal of nirvana rebirth.