'Fast and Furious 7' on Hold Indefinitely

In the wake of Paul Walker's tragic death over Thanksgiving weekend, Universal Pictures has announced that the Fast and Furious 7 is on hold indefinitely. From the studio:

“Right now, all of us at Universal are dedicated to providing support to Paul's immediate family and our extended Fast and Furious family of cast, crew and filmmakers. At this time we feel it is our responsibility to shut down production on Fast and Furious 7 for a period of time so we can assess all options available to move forward with the franchise. We are committed to keeping Fast and Furious fans informed, and we will provide further information to them when we have it. Until then, we know they join us in mourning the passing of our dear friend Paul Walker."

From what I've been reading, it sounds like most of the footage that director James Wan had shot for Fast and Furious 7 is unusable after Walker's death. While the movie had been in production for awhile now, The Hollywood Reporter notes that production "was organized to film the more conversational elements of the movie first and the action sequences later."

I've also head chatter that Fast and Furious 7 could be scrapped completely. It might come down to the possibility that there's just no way to bring together a cast reeling from the loss of Walker, a castmate and friend, and make a movie that respectfully moves on from his death.