re: why doesnt some one pursue insolvancy snake, it is because the parasites who run BCS don't make any money that way.
If the project was abandoned and the company wound up, I estimate that the owners would receive 20c in the dollar.
But the management don't want that. They want to steal that 20c for themselves - and then let the company fail.
They are crooks and theives. They should be in jail.