Deeded Owners & Developer Chapter 11

Can anyone share their experience as a deeded owner with a Timeshare where the developer/management filed for bankruptcy protection under Chapter 11 ? I'm a deeded owner at Sedona Vacation Club (Los Abrigados) and ILX Resorts has just filed. Of course there is no info on their website about this.

What would happen if they eventually went to Chapter 7 ?