Foundation: is it possible to start a foundation for this codebase?

The Problem I am still not able to understand how it was possible for an open source project on GitHub to be sold, money be pocketed, and the rest. How could that Happen? The code did not belong to the maintainers; not all of it. How come a set of maintainers could sell a codebase written by volunteers? It only makes sense when/if the codebase actually belonged to them. If a person or a group of people are the “owners” of a project, then they can sell it to someone else and keep the money for themselves.

Technical legal issues, indeed! For this not to happen again, there needs to be an independent and unsellable entity that would be the steward of the code. In the case of LibreOffice, they made The Document Foundation. It plays the role of an organization that cannot be bought or sold according to the laws and regulations in Germany.

Suggested solution Would it be possible, within our means in any significant way, to register a foundation in a reputable country to protect this project against a similar fate?

I suggest that a few who know these matters of legal complexities to look into the possibility of establishing a foundation for this on-going operation.

Your suggestions would be of great importance!