EQUITY AND TRUSTS PROBLEM QUESTION - IRAC NEEDED - BREACH OF TRUST

In 2018, Edward Essex created a valid trust in favour of three beneficiaries: Elena, Quinn and Ulrika. He appointed three trustees: India (a solicitor), Tristan (a trainee barista) and Yasmin (a postgraduate student). The value of the trust was 450,000. India, Tristan and Yasmin decided to invest 50,000 in a speciality coffee company called "Cups' because they knew that Elena loves coffee. They thought Elena would be delighted with this investment as a result, and that Quinn and Ulrika would understand their decision Tristan had also completed a beginners' barista course and felt confident, as a result, to assess the likely success of the investment. In addition, Yasmin saw a tweet suggesting that Cups was an up-and-coming company that was set to enjoy significant success. The shares in the company performed moderately well initially but dropped in value around the time of the first lockdown due to the Covid-19 pandemic. The trustees also invested 200,000 in a ready meals company called 'Fast, Fresh, Fantastic', giving them a 65% shareholding. The shares in the ready meals company initially performed very well but the company was involved in a series of scandals, which caused the value of the shares to drop significantly. These scandals included allegations that the company was sending abusive messages to food critics, having received a number of highly critical press reviews. A few months later, there was a further scandal, with allegations surfacing that customers were becoming unwell with food poisoning after eating the ready meals from 'Fast, Fresh, Fantastic', due to poor hygiene standards. A third investment, this time of 150,000, was made in a high-end fashion company called "SVE (S. Very Expensive)'. This company has performed consistently well. Elena, however, has been researching the supply chain of SVE and is increasingly concerned that the supply chain is not an ethical one. She has, therefore, written to India, Tristan and Yasmin, demanding that they withdraw the investment in order to raise awareness of this problem. Elena wants the investment to be put into a clothing company with higher ethical standards. The remaining 50,000 has been left sitting in a low-interest bank account, as the trustees remain unsure how best to invest the money. Elena recently told Yasmin that she needs to make more money for the trust. As a result, Elena told Yasmin to take 20,000 out of that bank account and bet the money on a high-stakes poker game. Yasmin did as she was told and did not inform the other trustees. Yasmin then lost the full 20,000 on the poker game. Advise Elena, Quinn and Ulrika whether they can pursue any remedies against the trustees for breach of trust