That being said, I hate how Canada's national sport has been raped over the past 20 years. Picture the NFL if all the teams were in Mexico and Canada and we only had teams left in Washington, New York, Chicago, Pittsburgh, Boston and Dallas, and any effort to expand to any of the other cities would be shot down immediately. Putting a team in Hamilton or Toronto, especially one that has a Canadian pedigree at it's core, would almost certainly have the support of the people and built in rivalries with Buffalo, Toronto, Montreal and Boston.
A bankruptcy court can declare Basille the owner of the assets of the team, but it is a long way from that to the league giving him the approval to move the team to Hamilton. That is going to be near impossible to get from the ownership group. Going into bankruptcy gives the Coyotes the ability to renegotiate their lease and all that and I have little doubt that Glendale would be willing to do so since that building would pretty much stand empty otherwise (I believe the Suns still play downtown at US Air Arena, but I may be wrong).
The NHL covets 2 cities at this point, Kansas City and Las Vegas (and to some extent Seattle now that the Sonics are gone) and they will find a way to be in there within the next 5 years if Bettman has his way. If he gets that, then I can see him letting Balsille take the Coyotes to Hamilton and rebirth the Tigers or something along those lines