Question
Meanwhile, Bart learns that a parcel of land owned by the trust has been sold to a company called Smithereen Properties Pty Ltd. Bart has
Meanwhile, Bart learns that a parcel of land owned by the trust has been sold to a company called Smithereen Properties Pty Ltd. Bart has a copy of the trust deed and knows it was a term of the trust that real property holdings of the trust were not to be sold but rented out, and proceeds retained for the trust. Bart learns from Millhouse's mother, who works as Smithers' secretary, that Smithers is the sole director and shareholder of Smithereen Properties Pty Ltd, and that Smithers has paid himself $10,000 from the trust account which he claims were for 'trustee expenses' incurred in the sale. Assume you are appearing in the Equity Division of the Supreme Court briefed to appear on behalf of the beneficiaries of the Burns Family Trust. Outline the nature of any claim you may bring against the trustees in relation to:
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