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Bill is a director of a company that sells cables for the use in securing footbridges over roads and highways. Bill gave a contract for

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Bill is a director of a company that sells cables for the use in securing footbridges over roads and highways. Bill gave a contract for the supply of cables to his son without disclosing this to his other directors and he also authorised extra payments to himself without justification when the footbridges were completed early. Bill's son was a very good tradesman and his company had won several prestigious awards. a) What fiduciary duties to the company's shareholders has Bill breached? (4 marks) b) What sections of the Corporations law might the regulator (ASIC) use to prosecute Bill? (2 marks) c) What provisions of the Corporations law could the other Directors seek to recover the extra payments to himself? (2 marks) d) Are there any similar cases that have been heard by the courts? (2 marks)

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