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Recent PPS Act Articles

Protecting inter-company & personal loan arrangements under the PPSA

on 20 Apr 2015
by Philip Sheezel

Inter-company and personal loans to trading entities need to be properly documented and the security arrangements need to be registered on the PPSR- otherwise the lenders may well end up as and unsecured creditor in the event of the borrower becoming insolvent or going into liquidation. This article answers 6 questions that you should consider if you or a family member or a company in your group lends money to a another entity in your group

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How to lose a $2m race horse

on 18 Feb 2015
by Rikki Papesch

There is a New Zealand case (the Australian legislation is based on the New Zealand law so this is a precedent) Waller v New Zealand Bloodstock Limited [2005] NZCA 254; [2006] 3 NZLR 629. In that case the owners of a $2 million racehorse leased it to a stud. The stud got into financial difficultly and the stud’s financier repossessed the stud (and with it, the horse).The horse’s owners had not registered their security interest in their horse under New Zealand’s equivalent of the Australian legislation. They lost their $2 million chaff-burner to the liquidator as a result

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Why you need to register your security deposits & landlords chattels

on 20 Jan 2015
by Rikki Papesch

The attached article explains why security deposits paid by tenants under commercial leases and landlord's chattels and other personal property need to be registered on the PPS Register and explains how to go about such registration.

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Landlords and property owners may not be as protected as they think they are!

on 13 Jan 2015
by Philip Sheezel

A recent Victorian Court of Appeal decision has important consequences for Landlords of commercial leases, for property owners who enter into building contracts and for a range of other commercial conditional arrangements where monies are held in a trust account pending completion of specified obligations under a contract. The attached article explains the implications of this decision for Landlords.

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The Personal Property Securities Act 2009 requires that businesses register all security interests on the Personal Property Security Register (PPS Register). Not registering a security interest will potentially result in your business losing its interest in goods supplied to clients that become insolvent, bankrupt or enter into liquidation.
We can provide you with a tool kit of tailored products and services that will help you through the PPS Act maze of information and help you to take control of all your PPS Act requirements.

Find out more at www.ppsr.gov.au