Contemporary Business Law 8th Edition) E Chapter 25, Problem 3cc Bookmark Show all steps aON Chapter 25 A Problem Duty of Loyalty Peter Shields was the president and a member of the board of directors of Production Finishing Corporation for seven years. The company provided steelpolishing services. It did most, if not all, of the polishing work in the Detroit area, except for that of the Ford Motor Company. (Ford did its own polishing.) On a number of occasions. Shields discussed with Ford, on behalf of Production Finishing, the possibility of providing Ford's steel polishing services. When Shields learned that Ford was discontinuing its polishing operation, he incorporated Flat Rock Metal and submitted a confidential proposal to Ford which provided that he would buy Ford's equipment and provide polishing services to Ford. It was not until he Chapter 251e resigned from Production Finishing that he informed the board of directors that he was pursuing the Ford business himself Production Finishing sued Shields. Has Shields breached r 25.20 his fiduciary duty of loyalty to Production Finishing? Who wins? Production Finishing hapter 2b Corporation v Shields, 158 Mich App 479, 405 N W2d 171 Web 1987 Mich. App. Lexis 2379 (Court of Appeals of Michigan) Step-by-step solution