I think the only avenue for shareholders is to prove that they failed to perform their obligated duties as a director. Withheld info, false info or other breaches. If that is the case they can be held liable for any loss or damages to the company or 'others'.
Doing bad deals is not a breach (like their shitty financing deals). Misleading people about the current financial situation would be.
Ann: Notification of Adjournment of Second Meeting of Creditors, page-20
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