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.

1. Has Ben breached any of his duties as a Trustee? Give reasons for your answers.
2. What steps should they unit holders need to take to address the issue. Your response should address not but limited to the following:
3. Roles and responsibilities of a Trustee
4. Advise on member meetings.
5. Advise on member remediation in the courts and the likely outcome.

Write your answer in 150-250 words. Based on Australia