What is the bankruptcy liquidation of Kunming MCC Rongxing?

The bankruptcy liquidation of Kunming MCC Rongxing is as follows: 1. The shareholders' meeting made a resolution to dissolve the company; 2. Set up a liquidation team within fifteen days to start liquidation. The liquidation group of a limited liability company is composed of shareholders; The liquidation group shall exercise the following functions and powers during the liquidation period: (1) Clean up the assets of the company and prepare a balance sheet and a list of assets respectively; (2) Notify and announce creditors. (3) Handling the unfinished business of the company related to liquidation; (four) to pay the taxes owed and the taxes generated in the liquidation process; (5) Clearing up creditor's rights and debts; (6) Disposing of the company's remaining property after paying off debts; (seven) to participate in civil litigation activities on behalf of the company. The liquidation group shall notify creditors within 10 days from the date of its establishment and make an announcement in a 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. 4. After clearing the company's assets, preparing the balance sheet and list of assets, the liquidation group shall formulate the liquidation plan and report it to the shareholders' meeting, shareholders' meeting or the people's court for confirmation. After paying the liquidation expenses, employees' wages, social insurance premiums and statutory compensation, paying the taxes owed and paying off the company's debts, the remaining property will be distributed by the limited liability company according to the proportion of shareholders' investment. During the liquidation period, the company shall survive, but shall not carry out business activities unrelated to liquidation. The company's property shall not be distributed to shareholders before it is paid off in accordance with the provisions of the preceding paragraph. Five, the liquidation group after cleaning up the company's property, prepare the balance sheet and property list, found that the company's property is insufficient to pay off debts, it 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. Six, after the liquidation of the company, the liquidation group shall prepare a liquidation report, submit it to the shareholders' meeting, the shareholders' meeting or the people's court for confirmation, and submit it to the company registration authority, apply for cancellation of company registration, and announce the termination of the company.