QuickHelper

(10)

$20/per page/

About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 356 Weeks Ago, 3 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Management Posted 07 Oct 2017 My Price 9.00

Claire Ltd is a public company that specialises in selling high-end luxury designer apparel for women.

Claire Ltd is a public company that specialises in selling high-end luxury designer apparel for women. May and June are two directors of the company. May has extensive knowledge about fashion as she has done a degree in fashion designing. June is specialist in the accounting side of the company as she has done a bachelor degree in Accounting. One day May has a fabulous idea to expand the company into the children’s apparel market. May wanted to make children’s clothes more fashionable and daring. May without consulting June, went and got a $5 million in loan and started to design the children’s apparel. 

May sent her designs to production and soon started selling the clothes at various outlets. After a while, May realised that the new designs were not doing so well. There was little sales and consequently, there was little profit. Claire Ltd started losing money and was not able to pay the debts of the loan. June was very unhappy when she realised what was going on. May then used the loan to invest money in a risky venture and retained all the profits from it for herself. Claire Ltd has become insolvent.

Advise whether May has breached any of the duties of the directors. What remedies are available, refer to authority and relevant cases.

Answers

QuickHelper
(10)
Status NEW Posted 07 Oct 2017 02:10 PM My Price 9.00

Hel-----------lo -----------Sir-----------/Ma-----------dam----------- T-----------han-----------k Y-----------ou -----------for----------- us-----------ing----------- ou-----------r w-----------ebs-----------ite----------- an-----------d a-----------cqu-----------isi-----------tio-----------n o-----------f m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.----------- Pl-----------eas-----------e p-----------ing----------- me----------- on----------- ch-----------at -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox -----------me -----------a m-----------ess-----------age----------- I -----------wil-----------l

Not Rated(0)