Would an investor with 20 million use the money to pay the debts of a company with a cash flow problem and which requires significant further investment in new equipment to ensure it's long term viability ?
Or would the investor start a fresh using the money for lease payments on newer generation aircraft ?
Why pour money into a black hole when a potential purchaser could pick up the pieces of MK he wanted at a bankrupcy sale for a few pence on the pound ?
Perhaps a phoenix rising from the ashes of bankrupcy is being planned leaving the creditors out of pocket and a new owner starting off with a clean sheet.