1\ In principle, you can't recover debts from the shareholders of Baiyun Company, because as long as an independent legal person company is established, you need to bear the responsibilities independently.

2\ On the application of unveiling the corporate veil, that is, if shareholders use the independent legal person nature of the company to evade debts, they may be required to bear joint and several liabilities for the debts of the company. However, it is not universal to apply this rule to collect evidence of shareholders' negligence.

Thirdly, Baiyun Company filed a bankruptcy application with the court.