You guys should get together and sue those "incopetent basterds"
To sue or not to sue, that's the question.
If succesful you would probably not get paid more than the basic salary for the notice period as stated in the contract.
Agreed that the managers should pay big for their negligence and incompentence, however legaly I don't think you stand a chance in this part of the world or anywhere else for that matter.
The best of luck to all!
A. Force