Bannister Law pursues shareholder class action against Quintis, page-124

Major contracts had been cancelled for months without disclosure?

The company was, in essence, a ponzi scheme? Unproved at this stage but all signs point towards it.

Frank Wilson was siphoning cash from the business through deceptive buy-back schemes?

The company sold MIS plots to major investment houses which it KNEW it could never recover in order to borrow against it?

Most of the above had been occurring for years. Your argument is based on an assumption that a director would not be reasonably expected to know any of the above aspects of the business.