Abbreviated: A LLC has enough papers to prove that they own Freenode, and they have more money than the Freenode past volunteers to spend in court fighting over this. Hence the Freenode volunteers decided to abandon Freenode.

Lesson: Even though you are a fully volunteer organization, always maintain an explicit paper trail that holds in court who owns and what, or someone will at some point simply come up with some documentation to their advantage and claim what you've built as their own.