Description of poor management and closure of the company

Legal analysis: 1. Information about all parties concerned; 2. Information on the entry and exit of specific funds; 3. Reasons for closure; 4. Date and signature.

Legal basis: Article 42 of the Bankruptcy Law of People's Republic of China (PRC), the following debts incurred after the people's court accepted the bankruptcy application belong to * * * beneficial debts: (1) debts arising from the administrator or debtor requesting the other party to perform the unfulfilled contract; (2) debts arising from the negotiorum gestio management of the debtor's property; (3) Debts arising from the debtor's unjust enrichment; (four) the labor remuneration and social insurance fees that the debtor should pay for continuing to operate and other debts arising therefrom; (five) debts incurred by the manager or relevant personnel in performing their duties; (6) debts arising from the damage to the debtor's property. * * * Beneficial debts have priority over ordinary bankruptcy claims.