Just a few thoughts and ideas while we await the outcomes of the receivership issue.
People might be concerned about LIFX remaining an ongoing concern and the possible shutdown of the company. This is possible but I suspect someone will step up and recapitalise the company and keep it going.
I think its time to just sit tight (without much choice in the matter) but also think of options in a worst case scenario.
A few people on here (like myself) already have set up Home Assistant and have no reliance on the LIFX app or their cloud service. Everything is handled locally so if the cloud service is closed down or the company stops operating, we have no expected issues.
I could sit here all day and write about HA...but its all out there for anyone to use right now and doing so is just boiling the ocean to make a cup of tea. I will add some links below in the case you want DYOR into Home Assistant. I found these to be very useful and a good place to start if you are considering HA as an option.
My personal set up is extremely stable and I rarely have to mess around with it. If you want to learn Linux then get a Raspberry Pi and use that. I went with an Intel NUC mini pc with SSD drive and Windows 10 running VirtualBox and the HA image for the NUC. The learning curve for this set up is a bit easier than running Linux but everyone to their own preference. Once you have it set up you can remove LIFX cloud from your bulbs and they will be managed locally and without the need of the app or cloud service.
There is a ton of doco out there to help you along the way.
https://smarthome.university/.../best-hardware-for-home.../https://www.home-assistant.io/https://www.awesome-ha.com/#official-add-onsHope this helps you in your smart home journey.