Carter is a significant decision of the High Court for insolvency practitioners because it decides that employee creditors of an insolvent corporate trustee are to be paid as priority creditors under section 433 of the Corporations Act 2001 (Cth) (Corporations Act). Carter is also important because it discusses ten primary principles of trust law and clarifies four additional principles. These principles are necessary for insolvency practitioners to know when administering insolvency corporate trustees.