RP Renuwal Problem due to previous company closed the shop!

Please anyone help us!

My husband was given a No Objection Letter by his previous company and asked him to look for another job. The previous company sold his shop and it was bought by a new company. The new company cancelled the previous name of the shop and registered a new company name. My husband found a new job and sponsor who's willing to give him sponsorship. The problem now is that, in the immigration they couldn't transfer the sponsorship because they told my husband that his previous company needs first to register again their company name due to non-existence of the company before they can transfer the sponsorship but this procedure will cause his previous company a lot of money. His previous sponsor promised to take care of this things but then until now there is no progress at all. Due to long time of waiting, my husband working permit already expired for 8 months now. Although the previous sponsor still keeps on promising and keeps on saying that he will do his best and we should not worry about this. We are now really worried because of the penalty that he needs to pay.
Just yesterday his sponsor told him that until now he cannot renew the company name since it involves a lot of money and also he is not planning to go into business again due to bankruptcy.
Is there any other legal way to transfer his sponsorship even without renewing and regestering his previous company? Please if you know or you know somebody who could help us regarding this issue let us know.
We are worried and confused. This is the first time i've encountered this kind of problem here. I don't know anybody who has the same problem as we do and how can we solve this.