Worthington's only hope for anything is if they are a creditor so, without that status, they have nothing.
What judge in his right mind would allow a company in bankruptcy to merge with a company as deeply in debt as WGAS? WGAS has shown no ability to conduct any successful business beyond selling shares of stock. WGAS has a possible source of funding but nothing secure. I can just hear the attorney argument now. "Your honor, I represent Paxton, well we used to be Paxton anyway, but now we are Worthington and we had a potential deal with Virgin. The company now might have some potential financing,,,,,,etc, etc" That sure wouldn't fly in any court I've ever seen.
Also, if Virgin had viable assets, they would have already partnered with a larger company to develop their assets. The fact that they were unable to do this before bankruptcy is very telling, especially if they were successful before the setback of the hurricane. Larger companies bailed out so many smaller ones, wonder why they overlooked Virgin?
There is no silver lining here in my opinion and it's a shame that so many have lost so much.
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