[Direct answer]In the Beijing area, owners usually cannot directly apply for the bankruptcy reorganization of developers in their own names, but they can participate in the declaration of creditor's rights and the voting on reorganization. According to Article 7 of the "Enterprise Bankruptcy Law of the People's Republic of China" (implemented on June 30, 2007), both creditors and debtors have the right to apply for bankruptcy of the debtor, but only when one creditor applies alone, the following two conditions must be met: first, the debtor's property is insufficient to pay off all debts, or the debtor obviously lacks the ability to repay; second, the number of creditors applying and the amount of creditor's rights meet the statutory requirements. In practice, the more common path is: multiple creditors apply jointly, or creditors submit a reorganization application to the court, requesting the reorganization of the debtor. For homeowners, a more practical approach is to pay attention to whether other creditors have filed for bankruptcy or reorganization applications. Once the court accepts the application, the owners should promptly declare their home purchase claims to the administrator, including the purchase price, repaid loans, agency fees, and expected interest, and actively participate in the voting on the draft reorganization plan. It should be noted that owners are usually treated as ordinary bankruptcy creditors in the bankruptcy proceedings, and their repayment priority is relatively low, so it is particularly crucial to declare their claims as soon as possible.Real estate transactions and construction projectsThe services in this column can assist in evaluating creditors and paths.

1. Problem background and typical scenarios

Common dilemmas include: the project being suspended for several months with no signs of resumption; other creditors having filed for bankruptcy; the status of the pre-sale fund supervision account being unclear; owners worrying that the restructuring plan might result in the failure to deliver the houses or impose additional burdens; and small-apartment owners fearing that they won't have the money to participate in the restructuring investment.Special services and other casesThe program description in the column can be used for reference. Owners often hope to proceed with the restructuring in synchronization with the delivery of the house, but whether the restructuring plan can be implemented depends on the overall situation of assets and debts.

II. Key points of contention

Focus One: The subject qualification and joint application for bankruptcy. Focus Two: The choice between restructuring and liquidation. Focus Three: The nature and declaration of purchase-related creditor claims. Focus Four: Voting rights for the draft restructuring plan. Focus Five: The connection between pre-sale funds and ensuring the completion of construction. Focus Six: The enforceability of individual settlement and installment payments.Financial capital and cross-border transactions involving foreign entitiesThe asset restructuring ideas in the column can be used as a reference for further study. Focus 7: The specific arrangements for housing delivery and the funding sources in the draft restructuring plan are directly related to the credibility of the restructuring.

III. Professional analysis by Henglue Lawyers

When handling such matters, Henglue Lawyers typically proceed in three steps. The first step is to clarify the overall situation: verifying the actual construction progress of the project, the use of pre-sale fund supervision accounts, the scale of unsold but delivered units, and the total external debts and asset status of the developer, which determine the feasibility and path of subsequent claims. The second step is to determine the claim path: distinguishing three scenarios - where other creditors have already applied for bankruptcy, owners should immediately turn to the administrator to declare their claims and participate in the reorganization vote; where bankruptcy proceedings have not yet been initiated, it is necessary to assess whether they meet the conditions for joint applications and organize creditors; where there is still a possibility of resuming construction, priority should be given to claiming continued performance rather than entering bankruptcy, as the repayment priority in bankruptcy proceedings is unfavorable. The third step is to design a list of claims: purchase claims should separately list the purchase price, the principal and interest of loans already repaid, mortgage handling fees, and default penalties and interest arising from delayed delivery, and attach contracts, payment receipts, and delivery records; at the same time, attention should be paid to whether the purchase price has actually been paid to the developer rather than deposited in supervision accounts, which will affect the specific form of claims and the determination of repayment priority. It should be noted that the degree of information asymmetry in bankruptcy proceedings is high, and owners often find it difficult to independently judge whether the reorganization plan is feasible, so professional judgment is of great value.Business and contract disputes in enterprisesThe restructuring analysis in the column can be used as a supplement.

IV. Practical suggestions and legal basis

Action recommendations: First, verify the construction status of the project and the supervision of funds; Second, monitor whether the court has accepted the bankruptcy or restructuring applications; Third, timely declare the purchase of housing claims to the administrator; Fourth, strive to participate in the voting on the draft restructuring plan; Fifth, evaluate whether to join forces with other creditors; Sixth, pay attention to the time requirements for creditor's claims declaration. Legal basis: Articles 7, 13, 14, 84, and 85 of the Enterprise Bankruptcy Law of the People's Republic of China (implemented on June 30, 2007) regarding the provisions on bankruptcy applications, creditor's claims declaration, and voting on restructuring plans; Interpretation of the Supreme People's Court on Several Issues Concerning the Specific Application of Law in the Trials of Urban House Sale Contract Disputes; The specific application shall be subject to the currently effective laws, regulations, and judicial rulings.

5. Henglue Law Firm's Advice

Firstly, it's usually unrealistic for owners to apply for bankruptcy reorganization on their own, and they should pay attention to whether others have already applied for it. Secondly, once the court accepts the application, the time requirements for creditor's claims must be complied with, and any delay may affect the recovery of compensation. Thirdly, the specific form of the purchase creditor's claims will affect the order of repayment, and it is necessary to carefully check the payment flow. Fourthly, owners should actively participate in the voting on the draft reorganization plan, as giving up the right to vote is not conducive to their own interests. Fifthly, do not rashly sign documents waiving rights in the bankruptcy proceedings. Sixthly, the connection between the "Guaranteed Delivery of Housing" policy and the bankruptcy proceedings varies from place to place, and it needs to be evaluated on a case-by-case basis.Special services and other casesThe column can also provide supporting explanations for the procedures.

VI. Frequently Asked Questions

Q1: Can owners apply for the bankruptcy reorganization of developers on their own?

Generally, it is not possible to apply for bankruptcy independently. Although the right to apply for bankruptcy belongs to creditors, an individual creditor's application must meet statutory conditions, including the debtor's property being insufficient to settle all debts or obviously lacking the ability to repay, and the number of creditors and the amount of their claims meeting statutory requirements. Therefore, owners can apply jointly with other creditors, but the more common path is to wait for existing creditors to apply and then participate in the process. If they want to initiate the procedure, they can join forces with other owners, suppliers, and creditors to assess whether the application conditions have been met and prepare the necessary materials, which usually requires professional calculations.

Q2: What is the difference between reorganization and liquidation?

Reorganization aims to enable the enterprise to continue operating, with the debtor or investor proposing a reorganization plan to achieve repayment through adjusting the debt structure and operational arrangements. Liquidation is used when the enterprise is deemed unable to continue operating, with the assets being sold and the proceeds distributed to creditors in order of priority. For unfinished building projects, if there is still a possibility of resuming construction and the asset value exceeds the total debt, reorganization is more conducive to owners receiving their homes. However, if the assets have already depreciated significantly or the project has come to a standstill, liquidation may only accelerate the realization of losses. Therefore, before deciding on a path forward, it is necessary to first assess the project's asset status and prospects for resuming construction, which requires evaluating the value of the construction project, the scale of unsold and undelivered units, and the total debt amount.

Q3: How to declare the purchase of a house as a creditor's claim? Can I get the full amount back?

It is necessary to declare and submit evidence materials to the administrator, which usually include the purchase contract, payment receipts, mortgage repayment records, agency fee receipts, and delivery and acceptance materials. There is uncertainty about whether you can get back the full amount: in bankruptcy proceedings, purchase-related claims are generally treated as bankruptcy claims and participate in the settlement process. These claims are usually ranked lower than secured rights and employee claims, and the actual repayment ratio depends on the liquidation of assets. Therefore, it is necessary to declare as soon as possible and not to miss the deadline; at the same time, it is important to verify whether the purchase price has actually been paid to the developer, because the unpaid portion may not legally constitute a claim against the developer.

Q4: Can I participate in the voting on the draft restructuring plan?

Yes. Creditors have the right to vote on the draft restructuring plan, which is an important mechanism to protect the interests of creditors in the restructuring process. When voting, attention should be paid to the arrangements of the restructuring plan: whether a clear delivery time is set, whether the owners' rights to the delivered houses are preserved, whether the owners are required to make additional payments and the specific conditions of the additional payments, whether the plan involves the option of using the houses to offset the debts, and the repayment ratios of different priority creditors. It is recommended to fully evaluate the terms of the plan before voting, and if necessary, consult professional opinions. Do not vote hastily or abstain from voting without understanding the content.Real estate transactions and construction projectsThe column can also provide explanations on the evaluation of the proposals.

Q5: If the bankruptcy process has already begun, can I still claim the breach of contract penalty for delayed delivery of the house?

It can be claimed together. The purchase credit not only includes the principal of the purchase price, but also the breach of contract penalty and interest arising from the late delivery of the house, and reasonable intermediary and agency fees, etc. When filing the claim, the various items should be listed separately and the calculation methods and basis should be explained, together with the contract terms, the delivery time and the evidence of the actual delivery time. It should be noted that if the purchase price has not been paid in full, the calculation basis of the breach of contract penalty may need to be adjusted accordingly; at the same time, attention should be paid to the filing deadline. Failure to file the claim within the time limit may affect the receipt of compensation.

The above questions and answers are mainly based on the judicial practice in Beijing. There may be differences in the adjudication standards in different regions. It is recommended to consult a professional lawyer based on the specific circumstances of the case.

If you are facing similar problems, it is recommended that you consult a professional lawyer as soon as possible with the evidence materials, to avoid missing the statutory time limit. →Legal services for real estate transactions·Beijing Henglue Law Firm

Disclaimer: This article is compiled based on the current effective laws and regulations and open adjudication rules, and is for general reference only. It does not constitute a formal legal opinion on specific cases. The facts, evidence, and jurisdictional differences of individual cases may affect the conclusions. If a dispute arises, please consult a practicing lawyer in time.