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Use the fact situation in Q1 to answer the related question that follows.Assume that at the time A, ...

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Use the fact situation in Q1 to answer the related question that follows.Assume that at the time A, ...

Use the fact situation in Q1 to answer the related question that follows.
Assume that at the time A, B, and C were making their decision, C also had an interest in Gladstone Inc., which he did not disclose to A and B, but that C chose not to take part in the vote. Also assume that when Multi Corp went bankrupt, a receiver was appointed, who sued A, B, and C on behalf of the company. In this case, the receiver will
a. succeed against A and B, regardless of whether they were diligent and used the established degree of care.
b. not succeed against A, B, and C because when A and B voted, they were diligent and used the established degree of care.
c. not succeed against A, B, and C because there was no breach of fiduciary duty to Multi Corp Ltd.
d. succeed against C for failure to disclose his interest in Gladstone Inc.
e. succeed against A, B, and C because directors are jointly and severally liable.

Textbook

The Law and Business Administration in Canada

Edition: 14^th

Authors: Smyth, Soberman, Easson, McGill

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