I feel for you guys and tried to warn of this outcome.
If someone can post a brief appraisal of what has gone on and the names of the individuals involved together with the present financial position I will try to help.
I dont have the time to do all the research, but do know every legal manouvre available in the field of film copyright.
The industry also has its fair share of less than diligent individuals and it is a little known fact that copyright offenses in the UK carry custodial sentences.