A recent decision of the Supreme Court of New South Wales in Metal Manufacturers Pty Ltd trading as TLE Electrical v WesTrac Pty Ltd [2024] NSWSC 144 (WesTrac decision) has highlighted some of the...
After more than ten years of operation, the Personal Property Securities Act 2009 (Cth) (PPSA) and the Personal Property Securities Register (PPSR) are in line for a major overhaul.
The recent Federal Court decision in Diversa Pty Ltd v Taiping Trustees Limited has highlighted some important risks faced by secured parties who don’t pay attention to the details when perfecting...
The status of power of attorney clauses and “step-in rights” provisions under the Personal Property Securities Act 2009 (Cth) (PPSA) remains an issue.
Will your security interest expire on 30 January 2019?
When refinancing inventory, gaining 'super priority' for a purchase money security interest (PMSI) over existing general security interests is paramount to protecting the investment made by the...
Making sense of the purchase money security interest (PMSI) priority provisions in the Personal Property Securities Act 2009 (Cth) (PPSA) can be challenging for financiers and insolvency...
A recent court decision is a timely reminder of the limitations that can affect a person’s ability to rely on set-off rights when a debtor or contract counterparty becomes insolvent.
Insolvency practitioners will need to consider whether a lease is entered into before or after the commencement of the Amending Act, as this will determine which set of rules apply.
The New South Wales Supreme Court has found that a secured party can't rely on its own mistake when registering on the PPSR to claim that the defective registration “temporarily perfects” its...
The New South Wales Court of Appeal, in a decision released on 6 February 2017,1 has confirmed that the common law meaning of what is, or is not, a fixture applies under the Personal Property...
A recent decision in the Supreme Court of New South Wales has clarified the circumstances in which a registration on the PPSR will be ineffective and the consequences that can flow from this.
The confidentiality of commercially sensitive information can be jeopardised by the operation of s 275 of the PPSA. If any document contains provisions which constitute a "security interest" for the
The Personal Property Securities Act (PPSA) and Personal Property Securities Register (PPSR) took effect on 30 January 2012. The PPSA and PPSR have replaced a large number of Commonwealth, State...