You assure us "the BOD would never let that happen".
Do you have written or oral evidence you can cite to that effect or is it either hearsay (hopefully not via CM) or your hope rather than fact?
Given that they have allowed Mir to ride the share price back down to where it was when he arrived while also flooding the market with additional shares to dilute shareholder value, why do you think they would act now to prevent BK. Their action in allowing him to, effectively, accomplish nothing, speaks louder and more clearly than you.