Could be. At the same time, if this is true, this completely nullifies any sense of intelligent business handling on BTZO's side. They will not only lose everything, but will likely find themselves entranced within the court system for the next 3-5 years instead of drawing up new ways to find means to eat.
Disclaimer: Everything I post is opinion and is not to be taken as investment advice. You make your own decisions based on your own judgement. Do your own DD = 'Due Diligence' = Your trade, Your responsibility.