In other words, if you start a business again, you can't be a legal representative yourself.
A limited liability company undertakes limited liability. The registered capital is the highest liquidation amount. Because it is a registration system now, if your paid-in capital is insufficient, it will be recovered from you. If you have fulfilled your paid-in obligation and have not withdrawn your cash, there is no need to increase additional personal losses.
But from the perspective of conscience and practical operation, you can find a similar educational institution to take over your assets and bear the corresponding liabilities. Exactly how to operate it is another question.
In the case of bankruptcy liquidation, 2 million tuition fees are liabilities, and the refund of compensation is only the last link.
Also, whether you go bankrupt maliciously should also be taken into account.
Profile of legal person:
A legal person is an organization that has the capacity for civil rights and civil conduct, enjoys civil rights and undertakes civil obligations independently according to law. The legal person system is an important legal system for countries all over the world to adjust the economic order and the whole social order.
Legal person systems in different countries have common characteristics, but their contents are different. Different legal persons have formed different legal person theories, and the theory of legal person system has become the theoretical basis for countries all over the world to establish and improve the legal person system, standardize the economic order and the whole social order.