REQUIRED: a) Advise Liz the liquidator about all of the transactions and tell her how much are Royal Caravan's creditors likely to receive in final satisfaction of their debts. Refer to relevant legislation in your answer. [20 marks] b) Liz is also contemplating actions against the directors for breach of their duties to Royal Caravans. Please advise Liz in relation to these matters and also in regard as to what penalties may apply. Refer to case law and legislation in your answer. [14 marks]