Green Savings Pty Ltd. makes mini solar panels. It also tenders to provide environmental solutions for large development sites such as new supermarkets and shopping plazas. Green Savings was formed out of the partnership of three sisters with different skills. Annie is an accountant, Beverley is the creative brains and Cindy the hands-on operational person. These three are named as the members of the board of directors. Their mother Dixie helps them out as well as she has a lot of business experience. Beverley proposes the company tender to provide solar panels for the World Solar Powered Car Racing Competition in Darwin. Annie advises against the venture but Beverley, Cindy and Dixie support a motion that the company will make a bid. Annie resigns from the Board in protest. Dixie does most of the work on costing the tender and they are all delighted when Green Savings wins it. Since Annie is not there to help with the financial side of the business, Beverley and Cindy decide to hire a manager to do the books and generally advise them on the accounting side of the business. Sam, a friend of a friend and a recent Bachelor of Commerce graduate, has been looking for work for some time. They hire him. As the bills come in and the bank balance falls, Sam becomes concerned but thinks that Beverley and Cindy, being experienced in business, know what they are doing. There certainly is a lot of activity and he knows the company is being paid by the Northern Territory Government for the design and supply of the solar panels. Beverley and Cindy presume Sam will tell them if they are running out of money. When asked by suppliers when they are going to be paid, Cindy just tells them to see Sam he is in charge of that sort of thing. Green Savings completes the project on time and is paid by the NT Government but when Beverley and Cindy finally have time to look at the companys position they are horrified to find out that they still have unpaid accounts of $300,000 relating to materials and specialist services obtained for the project. It seems their tender was underpriced. They are late paying interest on the loan the company took out to cover the purchase of some of the raw materials for the panels and the bank, a secured creditor, is threatening to take action if this happens again. Several unsecured creditors have written to Beverley explaining they are concerned that Green Savings is insolvent. Beverley has been so busy she has only just opened these letters. Required: Discuss whether Annie, Beverley, Cindy, and/or Dixie are in breach of their insolvent trading duties, what the consequences might be if they are, and what they should do now.