Unbalanced three phase system - Neutral fails/opens/disconnects - consequence?
The circuit will both be at higher voltage (well the parts of it) and will self-adjust. The reasoning behind this is pretty simple: First, the phases are out of phase, or to explain it simply, their voltage peaks happen at different times, so while one is at its maximum voltage, the two other phases will be at lower voltage than the one at maximum is, so basically, the load will be at the voltage between phases. Since we don't have the neutral conductor, the current which was going through it will have to go through one of the phases and that's how the circuit will "self-adjust". You can see that from the simulation here. 

When the switch is closed, all 3 loads are at the same voltage of 5 V compared to the ground. Once the switch is open, the voltages  at the loads will change. So the lightest load will drop the least voltage and the greatest load will drop the most voltage.