Bankruptcy reorganization and bankruptcy reorganization are not the same meaning. I. Similarity between reorganization and reorganization 1. Similar preconditions: companies and enterprises have a major financial crisis, are in a survival dilemma, are unable to pay off due debts or obviously lack solvency. This is the same premise of both. The purpose is the same. By cleaning up the relationship between creditor's rights and debts, introducing strategic third parties, transferring the company as a whole, changing the owner's management and other measures, the troubled enterprises can be saved, the enterprises can be reborn, and the negative consequences brought by the bankruptcy of the company can be avoided. Second, the difference between reorganization and reorganization. Reorganization is not a strict legal concept, but an agreed title (generally speaking, the law has never made any provisions on reorganization). The agreed "asset reorganization" generally includes the following situations: (1) acquisition and merger. (2) Equity transfer. (3) Asset divestiture. (4) Asset replacement. Reorganization is a rigorous legal concept, whose legal basis lies in the explicit provisions of the enterprise bankruptcy law, and its connotation, procedure, efficiency and consequences are clearly stipulated by law. Reorganization, because there is no legal framework constraint, the negotiation between shareholders and creditors is voluntary and there is no compulsion. For example, the time of negotiation, the repayment rate of creditors and so on. Is free to decide, there is no legal constraint. Legal basis: Article 70 of the Enterprise Bankruptcy Law of the People's Republic of China. The debtor or creditor may directly apply to the people's court for reorganization of the debtor in accordance with the provisions of this law. Where the creditor applies for bankruptcy liquidation of the debtor, after the people's court accepts the bankruptcy application and before declaring the debtor bankrupt, the debtor or investors whose capital contribution accounts for more than one tenth of the registered capital of the debtor may apply to the people's court for reorganization.