I have heard from TJ that their AOC is ready for re-instatement as soon as its required, but that this would only be for B747 ops, not the smaller MD80's. He was recently seen in the Middle East, no doubt punting for last minute Hajj flights.
As regards their chapter 11 status, that would not be decided by the CAA, but a Swedish Insolvency court. My guess that they would start with a clean sheet and a new name.
