That's not a lie. It's one of two competing theories on how to best handle bankruptcy. One theory is exactly what they're telling you: that if you take concessions to avoid bankruptcy, and still end up there anyway, that the judge will give you credit for whatever you've already done. The other theory is that giving up anything prior to bankruptcy will not be taken into consideration, and the judge will basically just award whatever the company claims that they need. Neither theory is right or wrong, and neither is a lie. It's just a theory, and which is better in a given situation is probably dependent on which bankruptcy judge you get, among other factors.