The application is made in the name of the enterprise. Bankruptcy cases shall be under the jurisdiction of the people's court of the debtor's domicile. After the enterprise enters the bankruptcy liquidation procedure, the first thing to pay is: bankruptcy expenses, then the wages and insurance premiums owed to employees, followed by tax payment, and finally the rest is used to pay the debts of the enterprise. As for children, it will not be involved, because it is a limited liability, and the debt is limited to the assets of the enterprise, excluding family property. See the content also involves the guarantee, the part that the enterprise can't pay off, the creditor can apply for the guarantor to pay the remaining arrears, but after the guarantor has fulfilled the obligation of travel payment, he can still recover from the debtor (your friend's company). As for the amount of debt, there should be an agreement on the amount owed by the bank, and the interest should be calculated according to the agreement (the interest rate should be in the agreement). It stands to reason that after the court accepts the bankruptcy case, the creditor should declare the creditor's rights at the specified time (so that the amount will come out and then be verified). The order is, just apply first. The court will set up a liquidation team for liquidation. As for whether fraud will be involved, it stands to reason that the guarantee company and the bank should bear joint and several liability.