The pooling of trust moneys deposited by multiple investors into a single account does not, in itself, infringe the principle that a trustee must keep trust moneys separate; the separation requirement refers to separation from the trustee's personal funds or from funds of separate trusts. Prejudice for the purposes of opposing an extension of time must be prejudice attributable to the delay itself, not prejudice at large — an impecunious applicant's inability to pay costs is not relevant prejudice where that issue would have existed regardless of the delay.
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