No new ownership of 1921 will occur whilst the debt to Purepay exists.
That debt will never be paid.
Thus no new ownership will occur.
Thus 1921 will run out of money, become insolvent and cease to exist.
No death will change this logic, only the status of the debt could do that.

Philip Day has no interest in playing any part in any change of ownership.
He just wants his money back.