A creditor of a trustee company in liquidation may be subrogated to the trustee's right of indemnity from trust assets, and this right survives a change of trustee. The successor trustee takes trust property subject to the former trustee's right of indemnity. Re Enhill Pty Ltd remains binding in Victoria notwithstanding academic criticism. An admission in pleadings will not be permitted to be withdrawn at trial without evidence of mistake or inadvertence and without good cause.
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