QUESTION 26 Which legal principle was established by the court in Equiticorp Finance Ltd v Bank of New Zealand (1993) O a. When a company is insolvent or near insolvent, the interests of the company become aligned with the creditors, rather than the members. b. The interests of employees and other stakeholders should not be given priority over the interests of members, Oc. It is legitimate to consider the interests of the company as a commercial entity separate from the members. d. A decision made by directors which benefits another company in the group is not a breach of duty where that decision also benefits the directors' company. QUESTION 27 Which of the following is considered a proper purpose for issuing shares? a. To maintain control. b. To create or destroy a majority voting power. c. To raise capital d. None of the above. QUESTION 28 Is a decision by a director to exercise a power for both a proper purpose and an improper purpose a breach of duty? a. Yes, always b. Yes, but only if, but for the improper purpose, the director would not have exercised the power Click Save and Submit to save and submit. Click Save All Answers to save all answers Save A MacBook Air