It's sad what United has become.
That said, I doubt it's going to be allowed to liquidate. Too much is at stake, and O'Hare (plus Chicago and Richard M. Daley) have some very powerful friends in Washington.
More likely than liquidation, they will re-enter Ch 11 and then get absorbed whole by someone (AA to match NWA-DAL?) in a fire-sale deal a 'la TWA. Probably within the next year. I see no way United can continue as a stand alone airline.