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The serious consequences that follow a failure to comply with the Personal Property Securities Act 2009 (Cth) (PPSA) were highlighted in the recent decision of Ward CJ in Eq of the Supreme Court of New South Wales in Psyche Holdings Pty Limited[2018] NSWSC 1254 (Psyche Case)..
Read MoreOn 19 May 2017, the Personal Property Securities Amendment (PPS Leases) Act 2017 (Cth) (Amendment Act) received Royal Assent and is now effective. The Amendment Act has changed the definition of a "PPS Lease" (PPS Lease) under the Personal Property Securities Act 2009 (Cth) (PPSA).
Read MoreMost accountants and lawyers are aware of the duty implications of changing a trustee of a trust that holds dutiable property in New South Wales – as long as any new trustee or continuing trustee cannot benefit under the trust, the duty payable on a transfer of dutiable property to the new trustee or continuing trustee will only be $50.
Read MoreAn update on on our previous article: 60 million reasons to perfect your security interest
The Full Court of the Supreme Court of NSW has rejected an appeal against the decision in Forge Group Power Pty Limited (in liquidation) (receivers and managers appointed) v General Electric International Inc NSWSC 52 (11 February 2016).
Read MoreThe growing jurisprudence in Australia in relation to the Personal Property Securities Act 2009 (Cth) (PPSA) has demonstrated, once again, how a defective registration on the Personal Property Securities Register (PPSR) can result in a security interest being unenforceable upon the grantor of that security interest becoming insolvent.
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