it should go into administration. but if you were a creditor, would you want to take it over as a going concern, not knowing the full extent of it's liabilities?
i know i wouldnt.
wouldnt surprise me if they kept it on life support and it traded it's way out of the mess it's in. just so no one is left holding the bag if it does goto the wall.
quite a bit different situation for the creditors than egs. where contracts and revenues were already lined up and you just had to pick the shareholders pockets if you were a debt holder.