The Loss of a Legacy Wallet

According to the petition that Nevada filed to put prime trust into receivership, they have a total client liability of $82,766,000. And as you said, I'm not exactly sure what it means, but yes, they lost access to a quote legacy wallet. But what I've been confused by is surely someone still has those keys, right? It was surprising to me that the they were acting as though these funds and this legacy wallet were unrecoverable. Whereas I assumed that someone must have had the keys among the previous owners.