A new NSW Supreme Court case, about parents trying to keep their property out of the hands of their daughter’s bankrupt estate, briefly mentions the PPSA. It says the PPSA would have defeated an argument the parents might have used to claim they had a charge over proceeds of the sale of the property. But […]
Key points The Personal Property Securities Act, after its first three years in operation, has undergone a detailed review undertaken by Bruce Whittaker. The Report recommends keeping the fundamental architecture of the PPSA, but with many detailed changes to improve its efficiency. If implemented, the recommendations offer significant improvements and streamlining for secured lenders and […]
The Personal Property Securities Act 2009 (Cth) (the ‘PPSA’) came into full force just over 3 years ago, on 30 January 2012. It significantly reformed the law of taking security over goods and almost all other kinds of property, other than land, in Australia, and established a new registration system for security transactions. Three years […]
It is now 3 years since the Personal Property Securities Act came into full force on 30 January 2012. The PPSA reformed the law of taking security over almost all kinds of property except land. For some secured lenders, things ultimately became much simpler: a single register replacing multiple different State-based, grantor-based or property-based registers. […]