The court can publish the list of people who have lost their trust to the public in a certain way;

The court shall inform the relevant government departments, financial regulatory agencies, financial institutions, institutions and trade associations that undertake administrative functions of the information on the list of people subject to dishonesty, so that the relevant units can impose credit punishment on people subject to dishonesty in government procurement, bidding, administrative examination and approval, government support, financing credit, market access, qualification identification and other aspects in accordance with laws, regulations and relevant provisions;

The court shall notify the credit reporting agency of the information on the list of people who have been executed in bad faith, and the credit reporting agency shall record it in its credit reporting system.

The company's inclusion in the "list of people who have been executed in bad faith" will also have a negative impact on the legal representative.

According to Article 3 of Several Provisions of the Supreme People's Court on Restricting High Consumption of Executed Persons revised by the Supreme People's Court 20 15, the executed person is a unit, and the executed person, his legal representative, principal responsible person, person directly responsible for debt performance and actual controller shall not engage in the following behaviors of high consumption and unnecessary consumption in life and work:

When taking transportation, choose the second-class cabin or above of the plane, train soft berth and ship;

High consumption in hotels, hotels, nightclubs, golf courses and other places above the star level;

Purchase real estate or build, expand or decorate high-grade houses;

Rent high-end office buildings, hotels, apartments and other places to work;

Purchase non-operating vehicles;

Travel, vacation;

Private schools with high fees for children;

Pay high premiums to buy insurance wealth management products;

Take all seats on G-prefix EMU trains, first-class seats on other EMU trains and other non-essential consumption behaviors.

What needs to be emphasized is that even if the company is not included in the list of "persons subject to breach of trust", as long as the company fails to fulfill the payment obligations specified in the effective legal documents within the time limit specified in the enforcement notice, the court can still (upon application or at its own discretion) take consumption restriction measures against its legal representative, principal responsible person, person directly responsible for debt performance and actual controller, and shall not implement the above-mentioned high-consumption and non-life and work-necessary consumption behaviors.

That is to say, as long as the company fails to fulfill the payment obligations determined by the effective legal documents, its legal representative may be taken by the court to restrict consumption.

In addition, according to the Memorandum of Cooperation on "Building Honesty and Punishing Dishonesty" issued by the Central Civilization Office, the Supreme People's Court, the Ministry of Public Security, the State-owned Assets Supervision and Administration Commission of the State Council, the State Administration for Industry and Commerce, the China Banking Regulatory Commission, the Civil Aviation Administration of China and China Railway Corporation on March 20th, 20 14, the person subject to breach of trust is a unit, and the object of credit punishment also includes his legal representative, the main person in charge and the person directly responsible for debt performance. In addition to restricting consumption, credit punishment measures also include restricting loans from financial institutions or handling credit cards.

It can be seen that corporate debt is not only the business of the company, but also involves the legal representative, which has an adverse impact on the personal work and life of the legal representative. In a society that pays more and more attention to credit, the lack of credit will make people unable to move. In this regard, the legal representative of the company should attach great importance to it.

If the company has no money to pay back, there is a simple way to prevent the legal representative from entering the credit blacklist or being removed from the blacklist: take the initiative to apply for bankruptcy of the company!

After the execution procedure is started, it is safest for the legal representative of the company to apply for bankruptcy. The above-mentioned credit punishment measures such as restricting consumption and lending were implemented only after entering the implementation procedure. If the debtor company voluntarily applies for bankruptcy and is accepted by the court before the execution procedure starts, none of the above measures can be implemented, because according to the provisions of the Enterprise Bankruptcy Law, after the court accepts the bankruptcy application, all execution cases involving the debtor should be suspended. In this respect, the bankruptcy procedure is actually protecting the legal representative of the debtor company.

If the court has blacklisted the debtor company and its legal representative after the execution procedure is started, the debtor company can still help itself and its legal representative to "clear their names" by filing for bankruptcy on its own initiative. According to Article 10 of "Several Provisions of the Supreme People's Court Municipality on Publicizing the Information of the List of People Being Executed in bad faith", if the court decides to suspend the execution due to the bankruptcy procedure of the people being executed, the bad faith information shall be deleted within three working days.

Bankruptcy is the ultimate way to solve the outstanding execution cases of the company. Bankruptcy can not only solve the so-called "execution difficulty" problem, but also be an effective way for the legal representative of the company to escape or exempt from liability. From a practical point of view, because the company does not need to pay fees in advance to the court when applying for bankruptcy, it does not need to spend any money except the necessary expenses incurred by hiring lawyers and accountants, which has the advantage of low cost.

Taking the initiative to file for bankruptcy is not a malicious evasion of debts, but a legal confirmation of established facts, and irrational criticism should not be made from the so-called moral height. On the contrary, indebted enterprises should be encouraged to come forward and let all creditors get fair compensation through bankruptcy procedures, which is also the original legislative intention of bankruptcy law.