I am still really gob smacked that this sort of thing can go on in Germany. I mean, I really like Germany and living here along with so many things the country has to offer, but I have also seen a good number of things here in recent years that I really don't understand. I respect the draconian tax system and dutifully spend ages doing a detailed declaration each year, but wow, talk about stifling creativity with all that paperwork, which for me is lost good time.
As far as similar situations go, the Swissair bankruptcy in 2001 was very messy and left loads of people stranded. But I have the impression they got their act together very quickly indeed and everything went ok after a few days. I was in the middle of it and the credit card company immediately reimbursed all lost tickets. Even the mileage programme, which is low priority now, was saved and continued.