A director who, while still holding office, prepares a list of the company's clients and organises a competing business for immediate commencement upon resignation breaches both fiduciary and statutory duties under ss 181 and 182 of the Corporations Act. Equitable compensation for such breach is assessed by the diminution in value of the company's rent roll using market multiplier methodology, not by reference to the period by which the director obtained clients earlier than she otherwise would have. The stringent trustee standard of causation applies to a defaulting director who disposes of or diminishes company property.
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