Thailand-based Sahaviriya Steel Industries (SSI) said it could no longer support its loss-making UK subsidiary, Redcar, which has run up 500m worth of debts. Earlier this week, it closed down the Teesside plant, Europe's second biggest steelworks. Cornelius Louwrens, chief operating officer for SSI (UK), emailed staff in Redcar on Friday saying he had just been told about the troubles following a board meeting of the parent group in Bangkok. The owners of the Redcar plant announced that they could no longer compete with low-cost imports from places such as China. They also complained that their situation was made worse by high energy costs in Britain and the soaring price of the pound against other currencies, which made its exports expensive and rival imports cheaper. These issues kept driving the company's operating costs up. This situation was aggravated by the Board of Directors prioritising its annual bonus and retreat, costing the company some 50m for FY 2019/2020, over satisfying its various growing supplier debts. Redcar steelworks owner goes into liquidation threatening all 2,200 jobs. An angry group of creditorscomes to you for advice on what action, if any, can be taken against the Board of Directors. Please advise using current laws