The new Bankruptcy Law will fast-track recovery of dues from defaulters and employees will be first in line to get their share from liquidation of assets if a company goes belly-up, says Minister of State for Finance Jayant Sinha. He also said that besides, it would also bring down drastically the time taken to wind up a sick company while making the entire process much easier. The minister added that employees' rights and creditors' rights had been dramatically strengthened and as a result, if indeed there were a default event, employees are first in line to be able to secure their rights.