Basically what happens under bankruptcy is the trustee sells all the assets of the business. From that revenue, the trustee pays any costs related to the administration of the bankruptcy proceeding, whats left over gets distributed to the creditors.
So you get $1 for every $5 you are owed for example.
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.
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.