[slavboj]

The entire point of bankruptcy proceedings is to arrange a final resolution of outstanding claims when there aren't enough assets to cover them. Someone is going to get screwed, because the money simply isn't there, including the money that would be used to pay for ongoing D&O (directors & officers) insurance that would pay civil claims against directors for actions taken in the course of their employment.

[bradleyjg]

The directors and officers are often quite wealthy. Insurance isn’t a cap on liability.