[ABSTRACT] Article 31 of the Enterprise Bankruptcy Law provides that if an enterprise transfers its property at a manifestly unreasonable price within one year of entering bankruptcy proceedings, the administrator shall be entitled to motion the People’s Court to revoke the transfer. The purpose of such revocation is to recover the property for the benefit of all creditors of the bankrupt enterprise.

Payment of debts to individual creditors (hereinafter also referred to as “individual payoff”) refers to the debtor’s payment to individual creditors when the debtor is already subject to bankruptcy because of a certain reason. The P.R.C.