Topic: Directors duties and the regulation of corporate governance – Part 2 NB As for most of the problem sets, the set questions this week relate to the companies described in the case-studies set out in [26-001]-[26-080] of CACL (see pages 565-569 of the 2016 edition). For some of the questions you need to be familiar with the information on those pages in order to answer the questions.1. The failed investment in JV Mine is having a negative impact on GML's financial position. Although Blue Mine Pty Ltd is currently less profitable than it has been in the past, it still has some cash reserves available. To smooth over the current difficulties at GML, Blue Mine makes an unsecured loan of $5,000,000 to GML. Have the directors of Blue Mine breached their duty to exercise their powers and discharge their duties in the interests of Blue Mine? Would your answer be different if Blue Mine's constitution included a provision reflecting s187 of the Corporations Act?