With the very complex structure of the company it may be difficult to divide it up, kill off one part and save another. The clue is in the wording
This weekend political parties in the Parliament are negotiating on a compensation aid package to the airlines in Norway.
, the politicians have already objected to funding operations outside of Norway and appear to only want to support "internal operations".
The best to hope for now is to keep the "brand" alive by liquidating everything outside of Norway, OK so this shafts the shareholders that showed good will (no choice) in converting debts to shares, on the other hand, continuing to operate whilst insolvent could bring heavy penalties and liabilities that the Norwegian element will certainly want to avoid.( already hinted at by the CEO) , It may be possible to get shareholder agreement for their interests to be retained in a state supported Norway only operation, but this would mean them agreeing to effectively walk away with no functioning elements of the "old structure", of course all the 787 and surplus 737 would be permanently grounded in the "non trading" part of the new structure. The debts are so huge that even state support would not keep the whole operation alive and would require such large sums that other Norway based airlines could question.