One additional comment, this is NOT a case of a Bank calling their loans when "cashflow dropped below the keep your butt safe level". This company has been issuing rubber cheques, and lots of them for months, the issues were well known and discussed. They also bald faced lied to the people that were getting the rubber cheques. There clearly was NO cashflow and no Bank can tolerate a client that continues to issue bad cheques, let alone can't make their debt payments.
In many ways it is probably a very good thing they went under now, at least most guys have got the majority of their money for last year. If it had happened in Apr next year imagine how many dollars trappers would stand to loose.
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