Pooled investment vehicle borrowing and secured lending permitted; lenders enforce against trust assets while trustee not personally liable. Pooled investment vehicles registered with the securities regulator are eligible to borrow and issue debt and other marketable securities; they may grant security interests under facility documents and, on default, lenders may recover and enforce security by proceeding against the trustee acting for the vehicle, with the trustee protected from personal liability; remaining trust assets are to be remitted proportionately to unit holders.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Pooled investment vehicle borrowing and secured lending permitted; lenders enforce against trust assets while trustee not personally liable.
Pooled investment vehicles registered with the securities regulator are eligible to borrow and issue debt and other marketable securities; they may grant security interests under facility documents and, on default, lenders may recover and enforce security by proceeding against the trustee acting for the vehicle, with the trustee protected from personal liability; remaining trust assets are to be remitted proportionately to unit holders.
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