Legal analysis: After the company declares bankruptcy, the remaining property of the company will bear the responsibility for repayment in the order of debt priority. After giving priority to the bankruptcy expenses and beneficial debts, the bankruptcy property shall be paid off in the following order:
(1) The wages, medical care, disability benefits and pensions owed by the bankrupt to employees, The basic pension insurance and basic medical insurance premiums that should be transferred to the employees’ personal accounts, as well as the compensation that should be paid to employees according to laws and administrative regulations
(2) The bankrupt’s arrears other than those specified in the preceding paragraph Social insurance fees and taxes owed by the bankrupt
(3) Ordinary bankruptcy claims.
Legal basis: "Enterprise Bankruptcy Law of the People's Republic of China" Article 18 The cause of bankruptcy, that is, the limit of bankruptcy, is: the corporate legal person cannot pay off its due debts, and the assets are insufficient to pay off all debts Or if the debtor obviously lacks the ability to repay, the debts shall be liquidated in accordance with the provisions of this Law.