The problem is you are assuming the CoT is no longer in existence. I personally haven't seen anything to that effect. I still see Council applications in shops and when I get enough tokens, they give me an award. I see Clan guards in many locations including the gates of Athen where my little Omni guys get all shot up.
The council was not often in session in the CoT building. Now, two members fled an investigation and the rest went home. I don't infer from this that the situation is any different than two months ago.
True enough, Omni-Tek may ask for representatives from the Council to discuss things and nobody may show up. But, there are still the Pilgrim members, the New Dawn members, the Terra Firma members, and who knows how many others that are simply attending to their own membership at this time. We got two two guys on the run and the rest have ended their council session. I didn't hear anything about them deciding to break up.
Rumors are flying, yes. But, you can't use rumor in an argument.