The liquidation of company,why nobody liquidates the company and there are many damages to the creditors and the other interested persons is that there are no enough clear and specific provisions on the shareholders liabilities in Company Law.

As to the last period of cooperation legal personality,the group of company liquidation shoulder the heavy responsibility,which maintain legal interests of creditor,shareholders and other interested party of the cooperation,keep social economy order stable.

The company liquidation is an important process in cleaning up a disbanded company s credit, debt and residual properties.

Since the promulgation of the Company Law and the Bankruptcy Law, it has been noticed that in certain occasions causes of bankruptcy arise while a company is going through the process of liquidation, which leads to the liability of the liquidators for bankruptcy application to the court and the succession of company liquidation to bankruptcy liquidation.