While that decision would be up to the new owners, my general assumptions would be that A) their rules will bear a significant similarity to current rules, and therefore B) those people who've already more than adequately demonstrated their lack of ability or desire to follow those rules will not be welcomed back.
I do think it might offer an opportunity for banned members to make an individual appeal...if they can make a convincing case that they should be allowed as members because they will change the behavior that got them banned, it might be worth considering. But if their argument is essentially, "You changed owners, so you should let me back in"...then fergedaboutit.