Tara, Sam and Dan are the directors of "Melbourne's Secrets Ltd" (MSL) which is a company that organises group tours of Melbourne's laneways and...

Description


Tara, Sam and Dan are the directors of "Melbourne's Secrets Ltd" (MSL) which is a company that organises group tours of Melbourne's laneways and streets. Dan's friend Eric runs a souvenir business and wants MSL to promote his business. Eric knows that MSL already recommends that its customers buy from a rival souvenir business. In an effort to have MSL promote his business, Eric tells Dan that he can spend three weeks a year staying at his holiday house in Portsea, which would normally cost $1,500 per week to rent. Dan thinks about this and decides that he will take Eric up on his offer. In return, he agrees to convince his fellow directors to promote Eric's souvenir business. Dan does not tell Tara and Sam that Eric will let him rent his Portsea holiday house for free.Advise the liquidator whether the directors breached any of their duties? 

Question

Tara, Sam and Dan are the directors of "Melbourne's Secrets Ltd" (MSL) which is a company that organises group tours of Melbourne's laneways and...

  • Written in: 17-Oct-2019
  • Paper ID: 5939377
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About this Question

STATUS

Approved

DATE ANSWERED

Oct 17, 2019

EXPERT

N/A

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