Quoted from Ballypinball:
Why walk away and hand over all the assets to investors, there is money involved, sold his shares or is still a share holder
There would be a contract of sale of the business, not just new directors signing on that is for sure.
It will all come out in time
Owning a business and being in debt was the most stressful part of life for me. With so many people relying on you, wearing many hats, putting out fires, playing mommy and daddy for your employees, etc, etc, the pressures are tremendous. I can tell you that there was a point when I would have happily walked away if someone came in and offered to pay off debts in exchange for the company.
I hope it all works out for everyone involved.