Has anybody seen contracts voided due to an abandoned owner making poor decisions before bailing? I ask because I just took over an abandoned team where the previous owner signed five over the hill players to $10M contracts each for five years....St Louis Browns in the Jersey League....

That may have happened in the past - can't hurt to plead your case to WIS. Who was the owner that abandoned the team?

I did, WIS responded that they are no going to do anything...

Very unlikely. Several years ago support announced that it would not reverse any moves that had been made, including mistakes and bad contracts. I'm not aware of them making any exceptions. Doing it once opens them up to being asked to do it more often and to owners getting angry that your contract was voided but theirs was not. They will also (rightly) say that if you don't like the contracts you should not have taken the team.

They have done it in the past IF you can prove that the contracts were done in bad faith, i.e. an intentional attempt to cripple a franchise by a disgruntled, departing owner.

But if it's just done through incompetence / poor decisions, then all bets are off.  You have to live with the contracts until they expire.