I don't think any bidding party would be as naive as to believe they will go for nothing.
Maybe, but I strongly suspect they will not be prepared to part with millions either.
I strongly suspect that SISU will end up buying Ltd back, and by regaining full control of the club it then gives them more options. They can either try to manage to club back to success (highly unlikely), or they put the club up for sale themselves, but with full control and on their own terms. Or they could liquidate the whole thing. Either way, they stand to recoup more of their money that way than they would through any sale of Ltd to a third party via the administrator.