Poor little Bu%&er must be worried as the only person stupid enough to sign up as a Director. Do you think he is just a patsy for the "real" money? Obviously if any wrongful trading or trading whilst insolvent could be demonstrated it would be totally his responsibility and would negate any protection he has through limited liabilities therefore making him personally liable for and creditors claims.
Seriously, anyone who wanted to put real money into an aviation venture would, one assumes, choose someone with a bit more of a proven track record than Mark.
Phil