Same problem
I had same problem in one S76C+ in Nigeria also. 7000 feet IFR bad weather, both channels AP1 and 2 went to off at same time, I went down looking for VFR conditions flying with stand by horizon (analog), 300 feet I got VFR conditions, copilot tried several times to recover APs as emergency check list demand, pulling CB on top Pilot head, but never wait 5 seconds to back in, and then press APs switches, on VFR conditions we followed step by step emergency procedures, recovered the APs and back home (Port Harcourt)