Taking action against the directors assuming it was successful,...

Taking action against the directors assuming it was successful, they have Directors insurance and any insurance had not been forfeited under some insurance clause might help creditors in some way but I can't imagine they carry sufficient insurance for there to be any benefit to shareholders.

The best outcome for shareholders will be to get the Company relisted even given the dilution that is going to occur - shareholders then at least have the option to get out some of their cash by selling out when relisted or stay in and see how things progress.