Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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
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)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started