Texts: Optimum Investors & Savers (OIS) Limited is an investment firm in Kingston, Jamaica. They specialize in advising their clients on good business ventures into which they could invest their money and make a handsome profit. Over the past few years, they have been experiencing severe financial difficulties in funding the expenses of the organization. The auditors have notified the directors that the company's debt situation is now beyond repair and that they may have to liquidate. In spite of that fact or oblivious to the situation, the company continued to encourage investors to invest in OIS Limited.
One of OIS Limited's investors, Mr. Boulder, has turned up at the company's corporate head office on Monday morning after a long time overseas to make inquiries as to his portfolio, with a view to making further investment. He was given the horrendous news that all his investment is gone and appears irrecoverable, and that the company is facing liquidation. He further discovered that the company, even before he had made the initial investment, was plagued by fraud, mismanagement, and was drowning in debt. He was also told that the directors were all living in splendor, with large bank accounts and high-end vehicles.
Mr. Boulder is livid. He was made to understand that the company was separate from its directors and shareholders and that if the company cannot return his investment due to its indebtedness, then that would be the end of the matter. He has come to you for advice. With the use of relevant case/statute law, advise Mr. Boulder on the following:
1A. THREE (3) duties of a director to the company.
1B. The legal basis, if any, on which he could compel the directors to supplement the funds of the company out of their personal resources so that he could get back his money.