When enterprises close down and owe money, they should exercise their rights in time to safeguard their legitimate rights and interests and take corresponding measures against closed factories that owe money. Specifically, the following measures can be taken:

(1) immediately sue to the court for rights protection.

(2) Apply to the court to freeze all assets of the company when suing.

(3) After the judgment comes into effect, apply to the court for auction of its assets.

When the company goes bankrupt due to arrears, creditors can bring a lawsuit to the court in time and apply to the court for bankruptcy liquidation according to legal procedures. In bankruptcy liquidation, the liquidation of bankruptcy property should be fairly distributed to creditors in a certain order and proportion. The distribution of bankruptcy property is the last stage of bankruptcy liquidation. The bankruptcy property category after the debtor is declared bankrupt includes the debtor's secured property; The secured property belonging to bankruptcy property shall have priority in paying off the creditor's rights with security right to the secured property; Bankruptcy property gives priority to paying off bankruptcy expenses and debts.

Legal basis:

Enterprise Bankruptcy Law of the People's Republic of China

Article 107 If the people's court declares the debtor bankrupt according to the provisions of this Law, it shall serve it on the debtor and the administrator within five days from the date of ruling, notify the known creditors within ten days from the date of ruling, and make a public announcement. After the debtor is declared bankrupt, the debtor is called bankruptcy, the debtor's property is called bankruptcy property, and the creditor's rights enjoyed by the people's court when accepting the bankruptcy application are called bankruptcy claims.

Article 116 After the bankruptcy property distribution plan is approved by the people's court, it shall be executed by the administrator. If the administrator implements multiple distributions according to the bankruptcy property distribution plan, it shall announce the amount of property and creditor's rights distributed this time. Where the administrator implements the final distribution, it shall indicate it in the announcement and specify the matters specified in the second paragraph of Article 117 of this Law.

Article 121 The administrator shall, within 10 days from the date of termination of bankruptcy proceedings, cancel the registration with the original registration authority of the bankrupt on the basis of the ruling of the people's court to terminate bankruptcy proceedings.

Derivative problem:

What is the difference between enterprise bankruptcy and bankruptcy?

Bankruptcy still has production capacity, that is to say, capital and debt offset or have little difference. Bankruptcy is the loss of production vitality of enterprises. Both are measures taken by enterprises only when they can't go on. Enterprise bankruptcy can apply for bankruptcy protection, which has little damage to the personal property of the business owner; And bankruptcy is to close the company without knowing the previous debts. Bankruptcy can be compensated in sequence, and bankruptcy is not compensated.