I doubt any of the partners would let GTCB to fall into financial chaos. They all have a lot of money riding on GTC's ability to function without threat of bankruptcy. Too many uncertainties if GTCB were forced into chapter 11.
I'm more confident (today) that GTCB will either survive as an independent company, or be acquired. Unless I'm mistaken, if they were to file for bankruptcy protection they could ask the court to declare their contracts void. That would certainly be a very costly scenario for at least 3 of the current partners.
"A government which robs Peter to pay Paul can always depend on the support of Paul."
/George Bernard Shaw
Government workers are like headless nails, you can get them in, but you can't get them out
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