I know this is a LONG, LONG reach but...
Is it completely inconceivable that the Chapter 7 could be reversed? That is, when assets (aka patents) are offered for sale, if the amount offered...assuming there would be multiple bidders...would be at a high enough price to more than exceed the value of the total debt. In other words, a deal that no one is interested in offering right now to the company, but one that might be flushed out if/when the patents actually HAVE to be sold. It is conceivable perhaps that a company who is/was unwilling to take on the PR "stink" that has surrounded this company, may be more likely to do so if they know for sure that one of their competitors may get the patents. If the current debt holders are playing hardball, then maybe RCPI management feels that this is their only option. And Chapter 7 gives a potential acquirer of the patents some PR cover.
Still doubt this helps common shareholders, but thought I would throw it out there. If there is actually substantial worth in the patents, then I would also think the principles involved in the current company would be scared about suits, etc. by common shareholders that would have a nice case for their total mismanagement of the company up to this point.
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