To me - this is an easy one. It's that player's responsibility to make sure he's got time. If he didn't do that - that's really not your problem, nor is it anyone elses.

As far as I can see - he's really got three options:
1) Keep playing and see where he ends up when the tournament is complete
2) Walk away and take 4th place (given that there were 4 still at the table)
3) Make an agreement with the other 3 players.

It's up to the people at the table to decide anything but option 1 or 2 - not up to the guy running the tournament. The players are the ones with equity in the tournament.