something to keep in mind...
a "chain bankruptcy" or "DAO bankruptcy" has never happened before
intuitions of fairness might not align with law
law might be unclear
there could be years of litigation, some of it potentially groundbreaking re: (shortcut phrase) "cryptolaw"
cannot legally confidently conclude that UST holders are senior claimants to the BTC
there could be many claims/claimants under a variety of legal theories, the cases could break new ground under legal "issues of first impression"
receivership of some kind should be established