If the airline where you have purchased your ticket goes bankrupt, you are not covered by the Danish Travel Guarantee Fund. This puts you in a bad position and the chances of getting your money back are very slim.
In such cases, you must file a claim for damages against the insolvent estate. The claim is unsecured, which means that you will only get your money back wholly or in part if there are assets left in the estate after all the secured creditors have received their money. This is often unlikely.