An administrator pendente lite holds assets in a capacity analogous to a stakeholder and must act impartially between competing potential beneficiaries. Where beneficiaries disagree on how voting rights attached to shares should be exercised, the court will not direct the administrator to vote, as to do so would prefer one group's interests over another. The duty to preserve estate assets does not extend to maximising financial value where that would breach the duty of impartiality. The status quo for the purpose of the administrator's duties is the position that existed before the appointment, not the position the administrator considers commercially optimal.
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