Why the discussion about"reforming" the company? Let's just get the settlement with T mobile, then sell the patent for a boat load of $$$. That way we avoid the problems of the past and walk away very happy!!
You can't control who buys shares but there are huge block share owners & we may not know how they got shares. No illigitimate shares can be rolled into a new company. The receiver needs to look at this regardless.
I would also support the company coming out of receivership, but I agree that NONE of the previous players can be involved in the forward direction of the company.