This has caught many by surprise and make me think is it by design??

Which bit is the surprising bit? The majority shareholder bankrolling and keeping the co afloat for years after rescuing it once before and finally saying enough is enough?

Or the major shareholder offering to take all the shares and responsibilities of a loss-making mine in return for paying out some money (and probably best outcome for any existing creditors)?

Any wrongdoing get them in court. Dir's Indemnity Insurance
will cover it and Insurance Co's usually settle first as they don't want to pay lawyers either.