[Direct answer]In the Beijing area, after the unfinished building enters bankruptcy reorganization, owners should declare their claims for the purchase price to the administrator within the time limit for creditor's declaration announced by the court, and submit materials such as the sales contract, payment receipts, and identity certificates. According to Articles 44 and 45 of the Enterprise Bankruptcy Law, creditors shall declare their claims within the time limit determined by the people's court; if the house purchasers have paid all or most of the purchase price and used it for residence, their claims shall have priority over ordinary creditors in the order of repayment (Article 113). After the reorganization plan is voted through, it shall be binding on all creditors (Article 92). It is recommended that owners pay attention to the administrator's announcements in time and consult professional lawyers as soon as possible. For more details, please refer to the following link:Legal services for creditor-debtor relations and enforcement cases.

I. Problem Background and Typical Scenarios

Buyers who have exhausted their savings to purchase pre-sale properties only to encounter project suspensions and developers' insolvency have become a frequent source of public disputes in recent years. Typical scenarios include: developers entering bankruptcy reorganization, with owners unsure whom to contact or whether to continue repaying mortgages; partial payment owners worried about losing their deposits, while owners who have already received their homes are torn between registering property and paying taxes; homeowners disagreeing internally on whether to demand houses or money, missing the window for creditor's rights registration; and owners losing their right to speak in subsequent liquidation and voting processes due to failing to legally register their claims. The reorganization process is highly professional and subject to strict time deadlines, making it difficult for individual owners to handle these matters independently.

II. Key points of contention

  • Identifying the identity of homebuyers: whether the property is used for residence and the proportion of the down payment already paid determine whether the creditor's rights can take priority over ordinary creditor's rights, which is the core of the struggle between homeowners and developers' creditors.
  • Whether to continue to perform the contract or to rescind the contract: Whether the owner chooses to take possession of the house (continue to perform the contract and complete the formalities) or to get a refund (rescind the contract and return the house payment) directly affects the nature of the creditor's rights and the expectation of repayment.
  • The handling of mortgage loans: If the house has not been delivered but the loan is still being repaid, the borrowing relationship and the purchase relationship are separated, and the owner needs to deal with the bankruptcy procedures of the bank and the developer separately.

III. Professional analysis by Henglue Lawyers

Henglue Lawyers have handled a large number of cases involving enterprises' inability to repay debts and enforcement in the field of creditor-debtor relations and enforcement, and have accumulated experience in penetratingly recovering creditor's rights. Taking a case of difficulty in enforcing an intermediary contract as an example: A company was ordered to return the intermediary service fees by the court, but after enforcement, it had no assets under its name and the court ruled to terminate the enforcement. Henglue Lawyers investigated and found that the company's shareholders had not paid the subscribed capital on time. Therefore, in accordance with the "Nine Civil Opinions" and relevant judicial interpretations of the Company Law, Henglue Lawyers argued that the company met the grounds for bankruptcy but did not apply for bankruptcy, and requested that the shareholders who had not paid the subscribed capital should bear supplementary compensation liability within the scope of their unpaid capital. Ultimately, the court ruled that the shareholders should bear supplementary compensation liability within the scope of their unpaid capital of several million yuan and one million yuan respectively. Although this case was not a housing purchase dispute, the idea of "piercing the corporate veil and pursuing the real-paid shareholders" in this case is of reference significance for owners of unfinished buildings to penetrate the shell companies of developers and pursue the liability of shareholders. The penetration of relevant enterprise debts can be combined withBusiness and contract dispute resolution services for enterprisesAnalysis and judgment.

IV. Practical suggestions and legal basis

At the legal basis level: Article 44 of the Enterprise Bankruptcy Law (effective June 1, 2007) stipulates that creditors shall declare their claims in accordance with the law; Article 45 determines that the declaration period shall commence from the date on which the court rules to accept the bankruptcy application; Article 48 stipulates that the administrator shall prepare and verify the creditor's list; Article 113 stipulates the order of repayment; and Article 92 stipulates that the reorganization plan approved by the court shall be binding on all creditors and debtors. The "Reply of the Supreme People's Court on the Priority Right of Compensation for Construction Project Prices" clearly stipulates that consumers' purchase claims take precedence over project payments and mortgages. Practical suggestions: After receiving the acceptance ruling and the administrator's announcement, owners should immediately organize contracts and payment evidence to complete the declaration; join the communication mechanism of owners' representatives to unify the claims of whether to continue to perform the contract; promptly file a lawsuit for creditor's confirmation if there are objections to the creditor's confirmation; pay attention to the repayment rate and voting procedures of the draft reorganization plan, and if necessary, entrust lawyers to participate in the negotiation and supervision. For issues involving property rights of houses, reference can be made to the relevant provisions.Real estate sales and construction project services.

5. Henglu Law Firm's Advice

During the bankruptcy restructuring of unfinished buildings, owners should avoid the mistakes of "waiting for news, not declaring claims, and not voting". Creditor's declaration is the prerequisite for all subsequent rights. Missing the deadline may only result in supplementary declaration and additional costs, or even being in a passive position in the repayment process. The purchase consumers' identity and the proportion of payments determine the priority of compensation, and it is necessary to provide sufficient proof with contracts and payment records. This case is handled by Beijing Henglue Law Firm.Yuan HangThe attorney (practice license number: 11101202110286151, subject to the document issued by the judicial administrative organ) acts as the agent. If the real estate project you are involved in has entered the bankruptcy procedure, it is recommended that you consult a professional lawyer as soon as possible, bringing along the contract and payment receipts. You can participate in the entire process of filing, raising objections, and voting on restructuring, and you can also do it throughSpecial services and other case-related servicesObtain a comprehensive solution.

VI. Frequently Asked Questions

Q1: If a real estate project goes bankrupt and is restructured, how should home buyers declare their claims for the purchase price?

According to Articles 44 and 45 of the Enterprise Bankruptcy Law, owners, as creditors, shall submit declaration materials to the bankruptcy administrator within the time limit for creditor's declaration determined by the people's court, including the purchase and sale contract of commercial housing, payment vouchers (receipts, bank statements), identity certificates, mortgage contracts (if any), etc., and explain the amount and nature of the creditor's claim (the principal of the purchase price, the paid loan, the penalty or interest). The administrator shall review the declared claims and compile a creditor's table (Article 48), and the owners shall check and confirm the results. For those that are not confirmed or partially confirmed, they shall raise objections in time to avoid affecting the subsequent rights to vote on the liquidation and reorganization plan due to omissions or misreporting.

Q2: What is the difference between bankruptcy reorganization and bankruptcy liquidation, and can the money still be recovered?

Bankruptcy liquidation involves liquidating the enterprise's assets and repaying debts in accordance with legal procedures, which usually means that the project is terminated and it is difficult for owners to recover the full amount of the payment; bankruptcy reorganization, on the other hand, involves introducing funds or adjusting debts to enable the project to continue and the enterprise to be revived. Owners are more likely to realize their rights through "delivery of housing + compensation" or "partial repayment". According to Article 113 of the Enterprise Bankruptcy Law, the repayment order is as follows: bankruptcy expenses and beneficial debts, employee claims, social insurance and taxes, ordinary claims. The rights of house-buying consumers take priority over ordinary claims. The success of reorganization depends on the asset revitalization plan. Owners should actively participate in the voting and supervise the implementation of the repayment plan, rather than passively waiting for the results of the liquidation.

Q3: If the mortgage loan is still being repaid but the house is unfinished, what should I do?

The relationship between the loan for purchasing a house and the sales contract for commercial housing are independent of each other. If the construction of the house is halted, it does not automatically exempt the owners from their obligation to repay the mortgage to the bank, but the owners can claim rights against the developer for breach of contract: on the one hand, they can file a claim for the purchase price in the bankruptcy proceedings and demand the performance of the contract or the return of the paid amount; on the other hand, they can request the rescission of the sales contract for commercial housing and the guarantee loan contract in accordance with the relevant judicial interpretations of the Supreme Court, and require the developer to return the remaining principal and interest to the bank, thus stopping the repayment of the loan. Owners should not stop repaying the loan unilaterally. Instead, they should simultaneously claim the rescission of the contract and the return of the loan through litigation or bankruptcy proceedings to avoid being pursued by the bank for breach of contract.

Q4: What materials are required to file a claim for creditor's rights?

The core materials include: the commercial housing sales contract and supplementary agreement, payment receipts for the purchase price (down payment receipts, bank transfer records, mortgage disbursement certificates), and identity proof; if there are claims for late delivery penalties or interest, the calculation basis and contract provisions should be attached; if online signing or pre-registration has been completed, the registration information should be submitted; for mortgages, the loan contract and repayment records should be attached. The materials should form a complete chain of "contract - payment - performance", proving the authenticity of the purchase, the proportion of payments made, and the amount of the creditor's claim. Owners should also keep the creditor's review results and response to objections issued by the manager, which can be used as the basis for subsequent objections or litigation, to avoid the creditor's claim not being recognized due to missing materials.

Q5: What is the priority ranking of the owner's claims in bankruptcy liquidation?

According to Article 113 of the Enterprise Bankruptcy Law, after the bankruptcy estate has paid off the bankruptcy expenses and common benefit debts in priority, it shall successively pay off the workers' claims, social insurance and tax arrears, and finally ordinary bankruptcy claims. For home buyers who have paid all or most of the purchase price and used the property for residence, their right to request the return of the purchase price shall be given priority over ordinary claims in accordance with special provisions of the law. In practice, it is often given priority over ordinary claims except for the right to priority compensation for the price of construction projects and mortgage rights. Therefore, the creditor's rights of eligible homeowners clearly rank higher than those of general suppliers and private lenders. However, whether they can be fully compensated still depends on the revitalization of the project and the value of the assets. Homeowners should pay attention to the cash repayment rate and debt repayment plan in the restructuring plan.

The above content is based on the compilation of judicial practices in the Beijing area. The facts of individual cases and the jurisdiction of the court may affect the conclusions. Welcome to consult Henglue Lawyers about specific situations.

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 creditor-debtor disputes·Attorney Yuan Hang·Beijing Henglu Law Firm