Hopeful is a company in which all of the shares are owned by Jerry's son, Dave who is also sole director of the company. The equipment cost $3,000,000 in 2008. With Jerry's consent, Failure sold the equipment to Hopeful for $500,000 and Jerry was paid the proceeds. When questioned by Tracey, Jerry and Dave explained that the transaction ensured the equipment \"remained in the family" and the business formerly conducted by Failure \"could start over again\" with Hopeful, which was \"in everybody's best interests\". Tracey obtained a registered valuers' appraisal, who values the equipment at $1,500,000 at the time of the sale. (a) Did the creditors at the meeting validly replace Dean with Tracey? (Hint: Also consider procedural irregularities) (b) Assume that Tracey was validly appointed. Does Tracey have any grounds to recover the property under Part 5.?B of Corporations Act