When you say that you hope the shareholders can recover something.... are you talking about a payout? Don't you think it is in MS and MDs interest to benefit the shareholders if they can get this company up in a few years?
A Chapter 11 BK does not ordinarily take very long to get a discharge unless the creditors line up to make it a disaster. In Chapter 11 I believe you can reaffirm all those things you agree to continue to make payments on and try for release from those you know you cannot. What the BK does is put a halt to all the creditors banging on your door and any attempt to remove any property at least until you can set out the above which will go into the conditions for discharge.
I am not an attorney and all information herein is solely my own personal opinion and not to be relied upon for decisions of any nature by any others.