It is well within the realm of possibility that AA, with its considerable cash, could tender an offer for LCC - while still in bankruptcy.
Horton could leave with a golden parachute, or Parker, or Parker and Horton could share responsibilities for a time. They have worked together in the past.
One of them at some point in time will depart the scene with a very attractive severence package. Giving up CoC would help fund such a package.
When I think about giving up CoC - I really DO start trembling.