We talked about it before, months ago. I doubt he and/or his associated parties can participate in any way in bidding for the patent. I am concerned about the conflict of interest there. CEO of the bankrupted company turns around and bids for the patent?
Other than him anyone who has resources can buy controlling shares of the company, come up with the revival plan, change from chapter 7 to 11. Then, the stock price could rise above a dollar level. That would give enough profit (at least in paper) to compensate for the cost and would also provide enough room to maneuver. Too simplistic way of thinking, but I am trying to be simple.
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