Bill and Simon were the executive directors of an unlisted public company called First Class Racing Ltd. Philip, Helen and Robin were the…

Further

investigation by them showed that the horse was owned by Bill’s father‐in‐law who was forced to sell

because of his impending divorce. Bill did not disclose this to the other three directors.

Required:

Advice Philip and Helen whether Bill, Simon and Robin have breached their duties to the company

and what can the company recover from Bill, Simon and Robin.

Also advise Philip and Helen whether you the chief financial officer have breached any duties. in irac method

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