The bond holders can’t possibly get a worse deal from a bankruptcy court.
Generally, bond holders go to the front of the line. A Bond is a form of contract, between the company and the bond buyer. Suppliers come next. Employees and stockholders figth for what is left.
You surely don’t expect the UAW, which because of their unsustainable contracts, caused the problems, to take over the company.
Who will buy their Volgas? Speak up.