Ben is a Trustee of a fixed trust with the main asset being a large apartment building in the city. The unit holders recently found out that Ben, sold two of the apartments in the building to two of his friends, each at a purchase price $75,000 below current market price. Ben also withdrew $300,000 from the trust account and bought land in his own name. That land has now increased in value by 25%. Claire, a unit holder has approached you and would like to know the following. Has Ben breached any of his duties as a Trustee? Give reasons for your answers. What steps should they unit holders need to take to address the issue. Your response should address not but limited to the following: Roles and responsibilities of a Trustee Advise on member meetings. Advise on member remediation in the courts and the likely outcome. Write your answer in 150-250 words. Based on Australia

Ben is a Trustee of a fixed trust with the main asset being a large apartment building in the city. The unit holders recently found out that Ben, sold two of the apartments in the building to two of his friends, each at a purchase price $75,000 below current market price. Ben also withdrew $300,000 from the trust account and bought land in his own name. That land has now increased in value by 25%. Claire, a unit holder has approached you and would like to know the following. Has Ben breached any of his duties as a Trustee? Give reasons for your answers. What steps should they unit holders need to take to address the issue. Your response should address not but limited to the following: Roles and responsibilities of a Trustee Advise on member meetings. Advise on member remediation in the courts and the likely outcome. Write your answer in 150-250 words. Based on Australia

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