alt Hacker NewsBankruptcy sells the assets on behalf of creditors that have specific priority in law. Just releasing code to users would be a pretty serious abrogation of creditor rights.
The most likely outcome is that some PE firm would buy the software rights out of bankruptcy and figure out how to bleed money out of people that want to continue using that software.
> Just releasing code to users would be a pretty serious abrogation of creditor rights.
Would it, if legally required at the point of sale of the good the source code is based on and utilizes? I doubt creditors claiming ignorance of state law works well as a defense.