Legal analysis: if it is a limited liability company, you can apply to the people's court for reorganization, reconciliation or bankruptcy liquidation, and apply for your bankrupt property to change the price to pay off the project payment. If the creditor has any objection, it may also keep the amount of the bankruptcy property after the price change. After the bankruptcy of the enterprise, the liquidation group shall exercise the following functions and powers during the liquidation period: clean up the company's property and prepare the balance sheet and property list respectively; Notify and announce creditors; Handle the unfinished business of the company related to liquidation; Pay off the taxes owed and the taxes generated in the liquidation process; Clean up creditor's rights and debts; Dispose of the company's remaining property after paying off debts; Participate in civil litigation activities on behalf of the company.
Legal basis: Article 185 of the Company Law of People's Republic of China (PRC). The liquidation group shall notify the creditors within 10 days from the date of its establishment and make an announcement in the newspaper within 60 days. Creditors shall, within 30 days from the date of receiving the notice, and within 45 days from the date of announcement if they have not received the notice, declare their claims to the liquidation group. When a creditor declares its creditor's rights, it shall explain the relevant matters of the creditor's rights and provide supporting materials. The liquidation group shall register the creditor's rights. During the declaration of creditor's rights, the liquidation group shall not pay off the creditors.