Oh aviator, I dont profess to know everything, but I was around when the biggest collapse of an airline since Air Europe took place, and know some of those who are STILL owed six figure sums.
Do not fret, if you are daft enough to be flying one of those 748s that our good friends at the authority seem to be taking 4 times longer to approve an AOC that they normally take, then rest assured you will be inpounded for a debt that is yet to be paid.
I can assure you, and those directors (or should that be failed directors) of the shortest airline in the history of UK aviation , you can run, but you can never hide.
Hope they give you large limits on you credit cards !! (although cant imagine they will EVER get credit from anyone ever again !!)