7 Assume a debtor has issued a statutory demand to Mask R Us Pty Ltd for the non-payment of a $10,000 debt.

Explain, with reference to the Corporations Act, the legal options available to the company in responding to the statutory demand and the legal consequences of ignoring the statutory demand?

8 Explain why the directors were liable for breach of duty in ASIC v Healey [2011] FCA 717 and also explain why their defences failed?

9 Explain why the shareholder succeeded in defeating the actions of the company in Gambotto v WCP Ltd (1995) 182 CLR 432.Your answer must be supported by legal reasons.