Did the directors of RCL Plc violate their duty of care to the corporation?

Ronald S. Lauder founded RSL Ltd., a multinational telecommunications corporation. RSL Plc was a subsidiary of RSL Ltd. The subsidiary began by issuing $1.4 billion of bonds. A few years later, in July, Lauder provided it with a $100 million line of credit. The company’s board of directors did not hold a meeting to approve the Lauder loan. In August, RSL Plc drew down $25 million from that loan. The following March, the company’s directors held their first board meeting in a year. Five days later, RSL Plc filed for bankruptcy.
The issue before the court is whether the members of the board of directors of RSL Plc breached their duty of care to the company when they failed to hold a board meeting for a year at a time when the company was in a precarious financial position.