Bannister Law pursues shareholder class action against Quintis, page-113

The directors have insurance because they become personally liable if they breached their duties by not disclosing blah blah.

The secured creditors would only have access to the company assets unless QIN directors were to breach other obligations that lifted the company veil for all creditors and possibly shareholders. So far no evidence of that. As long as a director goes into VA the minute they suspect the company can't pay their debts they are protected by the company veil.

The lawyers though would be indifferent to the solvency and would want them to go without breaching any further duties.

This is not legal advice.

From the QIN response usually a company will say "defend vigorously" but QIN just said "defend". They know they are toast.