How to deal with the bankruptcy of the company after financing

Legal analysis: the company closed down after financing, unable to pay off its due debts and unable to continue its business. The court announced that it would stop its business and clean up its creditor's rights and debts. According to the Company Law, the court shall organize shareholders, relevant authorities and relevant professionals to set up a liquidation group to conduct bankruptcy liquidation of the company in accordance with relevant laws.

Legal basis: Article 187 of the Company Law of People's Republic of China (PRC). After clearing up the company's assets, compiling the balance sheet and list of assets, the liquidation group finds that the company's assets are insufficient to pay off debts, and shall apply to the people's court for bankruptcy according to law.

After the company is declared bankrupt by the people's court, the liquidation group shall hand over the liquidation affairs to the people's court.