Which document is the basis for closing bankrupt enterprises to pay social security fees and exempt from late fees?

People's Republic of China (PRC) Bankruptcy Law. According to the Higher People's Court of Hubei Province, official website, the closure of bankrupt enterprises without paying late fees and paying social security fees is based on the provisions of the Bankruptcy Law of People's Republic of China (PRC). The closure of a bankrupt enterprise refers to the process that an enterprise cannot continue to operate due to poor management and insolvency, and is declared bankrupt and liquidated according to law.