onsider Director's Duties

James was one of the directors for Steel Tubing Ltd. Steel Tubing Ltd provided good quality seamless steel piping use for the petrochemical industry for drilling pipes. Their main customer is NZ Petrochemicals Ltd and is the mainstay for the Steel Tubing's production factory. James is tasked by the Board of Directors to renegotiate the new contract with Petrochemicals NZ Ltd., however in the negotiations James makes it clear that he can find a 'cheaper contract' for Petrochemicals NZ Ltd if they are willing. Petrochemicals NZ Ltd lets Steel Tubing know that they will no longer be dealing with them - that they have found a cheaper contractor. James resigns from Steel Tubing Ltd shortly afterwards claiming he has a serious health issue.

The Board of directors investigate and find out that James is a director of a new company "Steel Pipes Ltd' and his wife the other director. Not long after, some of the key engineers are recruited by James away from Steel Tubing Ltd to work for his new company.

With reference to the Companies Act and case, advise Steel Tubing Ltd if James has breached any law?

Make sure to explain your answer along with any potential remedies that may be available to Steel Tubing Ltd