Can you split equity with the Shapley value?

I wrote this article and a quick calculator to divide shared costs. But assuming you just measure amount owed by time spent in a startup the calculator could be used to price contributions.

Resolving Bankruptcy Claims http://www.ams.org/samplings/feature-column/fcarc-bankruptcy

If you could calculate how much individual alliances are worth it becomes closer to a full Shapley value calculation but how would this be done?