Chapter 7 happening at this point is pretty much a zero possibility. The law is clearly with CPRKQ and anybody that understands BK law knows it. This is a fact and anybody who disputes it is definitely ignorant of the USA BK law.
The more important point is that Chapter 11 does not in any way shape or form guarantee that the share holders will see any value from it.
It you had stated that in your post instead of harping on Chapter 7 (which is a dead horse) I would agree with you.