TMs do not jsut go away, even with a merger, someone still owns the TM. Usually, goodwill is retained in some fashion and previous TMs remain in effect. For example AOL TimeWarner, three distint companies under one "merged" name. But we all know AOL, Time and Warner are all still Tms in it's singular form.
As far as "bad faith".. it depends. Usage palys an important part in determining bad faith. But it seems you may want to cash in somehow, that would probably be bad faith.