Remedies available to beneficiary
1) Injunction - to prevent unauthorised action by trustees;
2) Personal action - a trustee is only liable for his own acts and defaults, and not for those of an agent or co-trustee unless these take place with his knowledge or by reason of his own "wilful defaults" (re Munton).
If a trustee commits a breach of trust he must -
- Make good any capital loss, with interest at 4% or 5% if he has used the money for his own purposes or been guilty of fraud, and
- Account for any profit he has made.
3) Criminal liability for fraudulently converting trust property.