Builder file chapter 11 bankrupcy, can we get the deposit back?

A house contract was sihned in Oct. 2007, but the builder coulder close it by Oct. 2008 as they said, and it is going to close soon. But the builder file chapter 11 bankrupcy, I wonder if we can withdraw with the deposit back? If not, can we use the credit (They used to tell us we can cancel the contract and can use the deposit to buy another house within a year.) as we were told? Or it is going to be nothing for us because of their bankrupcy? Thanks in advance for your advice.