Glassman, in another thread I pretty much said the same as you.
Doesn't a person need to be a bit ruthless to get where he is? You don't get to the top and not have enemies, that's for sure.
Also, I'm puzzled as to why he would transfer all his assets from Ulva Ltd and put them in Ulva Int if he thought there was no way out of the situation.
Also, I've said before, $2m in the grand scheme of things isn't a lot of money. I know he was not allowed to sell the house without permission from the liquidators, but I am of the understanding that he had properties elsewhere in the world. Sell them off, sell off the cars, sell off the expensive wall hanging I saw in pictures of the inside of the house, sell off the horses.
You're going to make a dent in those debts just by doing that and then come to an agreement with the debtors.
His debt, IMO, wasn't anything he couldn't have got out of without a bit of hard work.