INSOLVENCY – CONVERTIBLE DEBENTURE – APPOINTMENT OF JOINT RECEIVER – MANAGERS BY DEBENTURE HOLDER – DUTY OF RECEIVER – MANAGERS TO THE DEBENTURE HOLDER IN THE EXERCISE OF THE POWER OF SALE UNDER THE CONVERTIBLE DEBENTURE – WHETHER RECEIVER – MANAGERS IN BREACH OF DUTY – TERMINATION BY THE DEBENTURE HOLDER OF THE RECEIVER – MANAGERS AT THE POINT OF THEIR EXERCISING THEIR POWER OF SALE – WHETHER ANY BASIS EXIST UPON WHICH RECEIVER – MANAGERS MAY REFUSE TO ACCEPT TERMINATION – DUTY OF DEBENTURE HOLDER – WHETHER DEBENTURE HOLDER IN BREACH OF DUTY – WHETHER A COURT OF EQUITY CAN INVALIDATE THE TERMINATION OF THE RECEIVER – MANAGERS BY THE DEBENTURE HOLDER