I wonder if there remains some value in the IP. If the Chinese company really plans to use it, maybe someone who likes to sue cheating companies will buy the rights and wait for the Chinese company to sell batteries that use the technology.
Can ordinary blokes like us bid on the IP in bankruptcy court? Then partner with a company that buys up such rights for the purpose of suing later. I think many the Chinese outfit intended to string Axion along for the purpose of driving them into bankruptcy and then they will bid on the IP, figuring no one else will. Then they can bid almost nothing.