Good question ! What happens next ?One would think that the...

Good question ! What happens next ?

One would think that the receivers of Allco cannot directly seize RJT's assets.

In theory, if the irresponsible entity of RJT is not capable of fullfilling that function, then the unitholders in RJT should be able to appoint a new irresponsible entity.

However, before that happens, the banks which have lent money to RJT will be able to create a default and seize RJT for themselves.

It doesn't look very promising.