Non pilot. Non lawyer speaking.
BYALPHAINDIA
By the sound of what SJ have done today, It could be a case for a tribunal?
As I understand it, when a company goes bankrupt, then different rules apply. If you are 'sacked' it is because of a misdemeanour on your part that would be part of the company dismissing you from service with a bad record.
If you are made redundant, there is no blemish on your service with them and a future employer will be glad to talk to you. Further, it would (probably) make the staff a creditor for wages and redundancy payment - in the event of their being and cash left when all is done and dusted.
Lastly it also, I think, may affect how you are entitled to social welfare payments in the UK.