I feel your frustration with owning the stock. I just think your posts make no logical sense. For example, why do you think the company will ask for the shares to be reclaimed and redistributed (i.e. without a market sale to realize cash to settle the debt), when the news release clearly says the company is requesting a judicial ok for a sale of the shares?
Your prior supposition that the company will deliberately default so that it can find a way to take out the existing shareholders also makes no sense. Insiders are major shareholders who would be similarly affected by any default and it would be the debtors who could scoop up the company in your wildly dubious scenario.
It sounds like you are so ticked off that you aren't thinking straight. I get the first part (ticked off), but not the second part.