Bill and Mark are trustees of a trust established by Shawn in 2006 under which they are directed to hold the trust property on trust for Fran for life. thereafter for her children, Hani and Hilda. The trust property comprises RM700,000 in a fixed deposit account in RHB Bank, 50,000 shares in C&M Bhd, 100,000 shares in Tunas Bhd and 200 acres of timber land in Raub, Pahang. An investment clause authorizes the trustees to invest only in Malaysian government securities and public companies listed on the Kuala Lumpur Stock Exchange. The following events have occurred.

In January 2008, with the oral consent of Fran, the trustees sold the shares in C&M Bhd to themselves at a market value ofand reinvested the capital in Terus Maju Bhd, a speculative propeny development company.

In March 2008, the timber land was sold to Terus Maju Bhd and the money was used to purchase shares in Serantau Bhd. At the instigation of Fran, the trustees sold the shares in Tunas Bhd in the open market and invested the money in an overseas stock market. The shares in Serantau Bhd lost half of their value and the overseas stock market crashed to an all time low. The shares in C&M Bhd had doubled in value and Serantau Bhd had gone bankrupt.

Advise the parties.