If they saw the writing on the wall they could open-source before they went into bankruptcy. However, that could open them up to lawsuits if it was deemed they were “destroying” their assets before they could be claimed by investors and/or creditors, but that’s a big legal gray area depending on what you can show in court. And venture capitalists have better lawyers than bankrupt companies typically do.
If they saw the writing on the wall they could open-source before they went into bankruptcy. However, that could open them up to lawsuits if it was deemed they were “destroying” their assets before they could be claimed by investors and/or creditors, but that’s a big legal gray area depending on what you can show in court. And venture capitalists have better lawyers than bankrupt companies typically do.