2. The main impact of the PPSA is in insolvency. The first thing a liquidator, administrator or bankruptcy trustee will do when appointed is search the PPSR for relevant registrations. 4. In most appointments of liquidators or bankruptcy trustees, unsecured creditors will either receive nothing or very few cents in the dollar. Therefore, if you propose to offer funds or goods to a person or entity, securing the obligation should be the first thing on your mind.
When is a defect in a PPSR registration fatal? A defect in the ACN of the secured party not misleading
Case Note – Future Revelation Ltd v Medica Radiology & Nuclear Medicine Pty Ltd  NSWSC 1741 It is often the case that an error is made in the ACN, ABN or even name of a party, or in the serial number of collateral, when registering on the […]
The Supreme Court of NSW has decided a PPSA priority contest against the owner of leased Caterpillar equipment, in a fight with the receivers and managers of the equipment’s insolvent lessee. The case is a warning to those used to ownership and title retention based forms of security. […]
Most commentators, relying on s73 (link) of the Personal Property Securities Act 2009, state that liens are not affected under the PPSA. Section 73 provides priority to liens and other security interests arising under general law or under statute (called “priority interests”) in some circumstances. But there are […]