The plan you suggest is beyond ridiculous. Nokia has a totally decent net cash balance compared to their revenue. Their actual operations range from slightly non-profitable to slightly profitable. No company in a position like that would (could?) declare bankruptcy just to escape a relatively minor contractual liability.
So spin off the profitable parts and restructure the non-profitable ones. Or, I don't know, keep riding the failure train right off the side of the cliff. Whichever is easier.
