Why do you need to move the scripts? I ask because creating a symbolic link in the old location, then running the script using this symlink, will preserve the $0. That is a possible solution if you don't need to wipe out the old path entirely, or something similar that will prevent you from making the symlinks.
The script is being moved from an nfs mount to someplace local to the box. The nfs mount is going away and the mount point is root owned. Creating ghost paths where nfs used to be isn't going to be an option.