Articles

PPSA

Posted Jul 27, 2017 Hello from the other side… of the PPS Bill
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The PPS Bill proposing an amendment to the definition of ‘PPS Lease’ in the Personal Property Securities Act has finally been passed – What does this mean for you? WHAT HAS HAPPENED? On 11 May 2017, the Personal Property Securities Amendment (PPS Leases) Bill 2017 was passed by Federal Government. The reforms extend the minimum […]

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Posted Mar 02, 2016 Failure to Comply with PPSA Leads to Significant Financial Loss

 Forge Group Power Pty Limited (in liquidation) (receivers and managers appointed) v General Electric International Inc. [2016] NSWSC 52  Introduction The potential for significant financial loss resulting from a failure to register a security interest in plant or equipment, under the provisions of the Personal Properties Securities Act 1999 (Cth) (“PPSA”), became a reality in […]

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Posted Dec 02, 2015 PPSA reforms from 15 October 2015: Beware if leasing or hiring goods.

What’s changed? The definition of ‘PPS lease’ under section 13 of the Personal Property Securities Act 2009 (PPSA) has been amended. From 1 October 2015: There will no longer be a 90 day period test for the existence of a ‘PPS lease’ security interest that had previously applied to serial number goods. The period is […]

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Posted Dec 05, 2013 The End of PPSR Transitional Period is Near

On 31 January 2014, the period of temporary protection provided under the Personal Property Securities Act 1999 (PPSA) for security interests created before 30 January 2012 will end. This will affect many security holders who currently rely on the transitional arrangements provided under the PPSA to protect their interests. During the transitional period of the […]

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Posted Jul 05, 2013 A “Maiden” PPSA Decision: Are your security interests perfected?

Re: Maiden Civil (P&E) Pty Ltd v Queensland Excavation Services Pty Ltd & Ors [2013]NSWSC 852 The first significant decision concerning priorities between security interests under the Personal Property Securities Act 2009 (PPSA). Summary of the Maiden Facts Queensland Excavation Services Pty Ltd (QES) owned 3 civil construction vehicles (Caterpillars) which had been leased to […]

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