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This is interesting. I've never been to bankruptcy court myself. But, I learned about bankrupcy in a Finance course. The creditors have to be paid in the order of their importance. I think the government would be somewhere in the priority of being paid. Then, the customers, people who loaned you money, other companies, banks, etc.
If you have a corporation, then it has unlimited liability, which means that you are not responsible for paying anything personally if the corporation goes bankrupt.
I guess some amounts of money can be forgiven by the goverment if the company goes bankrupt.
From you avatar, I see that you have no shirt. I am guessing you might have sold your shirt to pay for you bankruptcy costs.
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