1. According to the Company Law of China, the company belongs to a legal person organization, and its civil liability shall be borne by the company's capital contribution, so the debts after bankruptcy shall be repaid by the company's assets.
2. Shareholders of a joint stock limited company shall be liable to the company to the extent of the shares subscribed by them.
3. If the company's property is insufficient to pay off, it will be declared bankrupt, cancelled according to law after liquidation, and the debt will not be paid off.
4. Shareholders who make false capital contributions or withdraw their capital contributions need to bear the responsibility within the scope of not paying their capital contributions in full.
5. If the shareholders of the company abuse the independent status of the company as a legal person and the shareholders' limited liability to evade debts, which seriously damages the interests of the company's creditors, they shall be jointly and severally liable for the company's debts.
After paying off the bankruptcy expenses and debts first, the bankruptcy property shall be paid off in the following order:
1. Wages, medical care, disability allowance and pension expenses owed by the bankrupt to employees, basic old-age insurance and basic medical insurance expenses owed to employees' personal accounts, and compensation that should be paid to employees according to laws and administrative regulations;
2. Social insurance premiums and taxes owed by the bankrupt other than those specified in the preceding paragraph;
3. Ordinary bankruptcy claims.
If the bankruptcy property is insufficient to pay off the repayment requirements in the same order, it shall be distributed in proportion.
The wages of directors, supervisors and senior managers of bankrupt enterprises shall be calculated according to the average wages of employees of the enterprise.
I hope the above content can help you. Please consult a professional lawyer if you have any other questions.
Legal basis: Article 1 13 of the Enterprise Bankruptcy Law of the People's Republic of China.
After paying off the bankruptcy expenses and debts first, the bankruptcy property shall be paid off in the following order:
(1) Wages, medical care, disability allowance and pension expenses owed by the bankrupt to employees, basic old-age insurance and basic medical insurance expenses owed to employees' personal accounts, and compensation that should be paid to employees according to laws and administrative regulations;
(2) Social insurance premiums and taxes owed by the bankrupt other than those specified in the preceding paragraph;
(3) Ordinary bankruptcy claims. If the bankruptcy property is insufficient to pay off the repayment requirements in the same order, it shall be distributed in proportion. The wages of directors, supervisors and senior managers of bankrupt enterprises shall be calculated according to the average wages of employees of the enterprise.