The people's court decides to accept an application for bankruptcy, it shall also specify the manager. The creditors' meeting that managers can not in accordance with the law, the fair execution of duties or other is not competent for the job situation, may apply to the people's court to replace. The people's court ruled that the admissibility of securities companies reorganization or bankruptcy liquidation, securities regulatory authority under the State Council may recommend management candidate to the people's court.
The administrator may by the relevant departments, institutions of the personnel of the liquidation group or legally established law firms, accounting firms, bankruptcy liquidation firm and other social intermediary organizations as. The people's court according to the actual situation of the debtor may, in consultation with the relevant social intermediary agencies views, specifies that the agencies have relevant professional knowledge and professional qualifications of the staff management.

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