If you can't repay after applying for a corporate loan, what will happen as a legal person?
Consequences of inability to repay corporate loans: 1. If it is really unable to repay, it shall negotiate with the lending institution to extend the repayment period or repay it in installments. 2. If the lending institution fails to perform the court's judgment within the performance period after suing the court and winning the case, it will apply to the court for enforcement. 3. When accepting enforcement, the court will inquire about the real estate, vehicles, securities and deposits in the name of the lender according to law. 4. If the lender refuses to perform the effective judgment of the court because there is no executable property under his name, negative information such as overdue repayment will be recorded in the personal credit report, which will restrict high consumption and entry and exit, and may even be punished by judicial custody. The General Principles of the Civil Law of People's Republic of China (PRC) stipulates that the investor of a profit-making legal person shall not abuse the rights of the investor to harm the interests of the legal person or other investors. Whoever abuses the rights of the investor and causes losses to legal persons or other investors shall bear civil liability according to law. The investor of a profit-making legal person shall not abuse the independent status of the legal person and the limited liability of the investor to harm the interests of the creditors of the legal person. Anyone who abuses the independent status of a legal person and the limited liability of the investor, evades debts and seriously damages the interests of the creditors of the legal person shall be jointly and severally liable for the debts of the legal person. Legal basis: Article 83 of the General Principles of Civil Law of People's Republic of China (PRC) stipulates that the investor of a profit-making legal person shall not abuse the rights of the investor to harm the interests of the legal person or other investors. Whoever abuses the rights of the investor and causes losses to legal persons or other investors shall bear civil liability according to law. The investor of a profit-making legal person shall not abuse the independent status of the legal person and the limited liability of the investor to harm the interests of the creditors of the legal person. Anyone who abuses the independent status of a legal person and the limited liability of the investor, evades debts and seriously damages the interests of the creditors of the legal person shall be jointly and severally liable for the debts of the legal person.