Ben - It's about the money.
Don't listen to those that blame Dodd or Esposito.
There is no almost no way to raise funds in a bankruptcy. Do you expect them to put up a massive amount of money while the public company is being pushed into Chapter 11? They could have done this with personal funds, but there's no guarantee that they could have rescued the company. They gave a massive amount of their personal time and wealth already. You may not see that, but it's true. They worked on behalf of shareholders, and did not have an ulterior motive.