The liquidator of an insolvent former corporate trustee removed by an ipso facto clause retains the company's right of exoneration over trust assets and may be appointed by the Court as receiver and manager of the trust to sell trust assets and distribute proceeds to trust creditors in accordance with statutory priorities.
The full text is available to signed-in members, including the 102 later cases that cite this judgment.
11 of the 102 citing cases carry a classified treatment. How each court treated it is available to signed-in members.