CORPORATIONS – Administrators appointed to a group of companies – Companies insolvent – Two of the companies were carrying on business as a partnership – Another company acted as an agent in trading on behalf of the partnership – Administrators seeking directions in order to be able to more properly advise the second meeting of creditors of the corporations – Whether the agent company held assets on trust for the partnership – Whether agent held a possessory lien over the assets it held on behalf of the partnership by reason of its right of indemnity against the partnership for debts incurred on behalf of the partnership – Whether lien had been lost by reason of the administrators of the agent corporation selling stock held by the agent on behalf of the partnership – Whether leases partnership assets held on trust for partnership. AGENCY – Existence of agency relationship – Agent’s right of indemnity – Nature of agent’s lien – Whether lien exists over assets of agent company – Effect of sale of assets by the administrators on lien – Whether the possessory lien of the agent extends to a bank account held on trust for the partnership.
