Do national chain law firms generally go bankrupt? No. According to inquiries from Hualu.com, it is not uncommon for law firms, as organizations without legal personality, to become insolvent and decl

Do national chain law firms generally go bankrupt? No. According to inquiries from Hualu.com, it is not uncommon for law firms, as organizations without legal personality, to become insolvent and declare bankruptcy. Law firms are working institutions for lawyers of the People's Republic of China and the state to perform their duties and carry out business activities. Law firms are organizationally subject to the supervision and management of judicial administrative agencies and lawyers associations.