[asuffield]

This is not necessarily true. Bankruptcy proceedings are complicated, but some creditors may have a legal preference - that means they get paid their debt in full, and everybody else then evenly shares what is left.

The government is usually entitled to this sort of treatment - the company's tax bill and fines will likely have to be paid in full before everything else is shared out. But this is being conducted under the bankruptcy laws of Japan, which I know nothing about. Ask a lawyer if you want to know.

[AndyJ1972]

Not in the UK in General, the Government lost it's preferential creditor status several years ago.

The result of which is that they chase their debts a lot quicker and a lot harder than they did before.

I too know nothing of Japanese bankruptcy laws.