oh I don't know, the directors of a limited company aren't responsible for paying debts owed by that company in it's demise.
They could have paid themselves £5000 each per week in wages from the company, leaving 250k in the companies' bank account for the powers-that-be to squabble over and whack out between themselves when the time comes.
I don't think their earnings from the company can be touched, so in short, they could both walk away with half a million wingwangs each, fines paid, knuckles rapped and retire to Barbados