My question involves bankruptcy in the state of Texas:
I worked for a privately held firm for 4 yrs. My business unit was autonomous from the primary functions of the firm. I do not know if my unit was profitable. Early in my 5th yr, I and a number of others were downsized in a cost saving effort and all paid severance. 10 months later the firm was shut down by the U.S. govt, declared bankruptcy and charged with selling illegal investments. The bankruptcy receiver is now suing those of us who received severance to clawback our severance. What is the likely course and outcome of this suit and is there any precedent in clawback lawsuits that I could research?

