Is a bankrupt a fiduciary position?

My review of the law is that the law does not support a view that the bankrupt occupies a position of trust. The employer/employee relationship is somewhat similar to the position of a bankrupt. While the former relationship meets the classic characteristics of fiduciary relationship set out in Frame v. Smith, the latter does not. When the three characteristics of Frame v. Smith are applied to the bankrupt’s position, it is questionable that this position meets the characteristics. The bankrupt does not have power or a discretion to exercise it; rather, the bankrupt has knowledge about his affairs and specific responsibilities under the Act. Secondly, the bankrupt cannot unilaterally exercise the power or discretion; rather, the bankrupt can choose to be less than candid with the trustees or creditors. Thirdly, while the creditors and trustee are in a vulnerable position because of the bankrupt’s candour or lack of candour, this is not the type of vulnerability which means they are “peculiarly vulnerable or at the mercy of the bankrupt”. Certainly, a trustee under the Act would be in a fiduciary position. (2) Is jail required for abusing a position of trust ?