Problem Question: Welsh Enterprises Pty Ltd was registered with Michelle and Derek as its directors. Michelle, Derek and their two daughters, Ellen and Molly, each own one share in the company. After the company's formation the following occurred: a) Welsh Enterprises Pty Ltd entered into a lease for new premises for the business; b) Welsh Enterprises Pty Ltd borrowed $30,000 from ANZ Bank to fund expansion of the business. Michelle and Derek personally guaranteed repayment of the loan; c) Welsh Enterprises Pty Ltd purchased several computers from Acme Computers Pty Ltd. One third of the purchase price was paid on delivery and the balance payable in equal monthly instalments. Assume that six months after these transactions were entered into, Welsh Enterprises Pty Ltd was unable to make the various required payments. Question: Would the shareholders of Welsh Enterprises Pty Ltd be personally liable to the landlord, the ANZ Bank or Acme Computers Pty Ltd? Explain