I found that liquidation means no severances, but I'm finding conflicting info online on whether severances are paid out in case of a bankruptcy to laid off employees or not.
Is this dependent on the company, judge who is handling the bankruptcy proceedings or something else entirely?
In Bankruptcy, TT and the entire board will be history. The Bankruptcy Judge puts a person over the company. The boards powers are stripped. After a mistake like this, a new management structure with a business plan will be in place before the company comes out of it. There dept load will probably be down to 1.5 to 2 billion. The rest will be payed out in new company share. Current share holders will get nothing. Good thing is, the company will be on great financial ground after.
No severance! You can count on that unless TT wants to give you all the money he made off the scheme
Chapter 11... no liquidation. Re-organization.