PPSA

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An easier and clearer Personal Property Securities Act? The Government outlines proposed changes

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An easier and clearer Personal Property Securities Act? The Government outlines proposed changes

On 22 September 2023 the Commonwealth government released the Personal Property Securities Amendment Bill 2023 and amending regulations for public consultation until 17 November 2023. The aim is intended to simplify the use of the law, in particular the registration process, and clarify its application, especially around enforcement priorities.

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AWE v Clough: The continuing clarification of what constitutes a personal property security interest and the requirements for rectification of out of time registrations

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AWE v Clough: The continuing clarification of what constitutes a personal property security interest and the requirements for rectification of out of time registrations

This case concerned an uncontested application to extend the time for registration of a security interest on the Personal Properties Securities Register (PPSR), requiring consideration of what constituted a ‘security interest’ capable of registration on the PPSR.

Security for costs does not create a PPSA security interest: Laurus Group v Mitsui

Security for costs does not create a PPSA security interest: Laurus Group v Mitsui

The Victorian Supreme Court has confirmed that payment of funds into Court as security for costs will not give rise to a security interest required to be registered on the PPSR, even if the payment was made pursuant to consent orders. This means that section 267 of the PPSA will not assist external administrators to recover funds paid into Court as security for costs under a Court order.

Australia's First PPSA Decision

Australia's First PPSA Decision

On 27 June 2013 the first major Personal Property Securities Act 2009 (Cth) (PPSA) judgment was handed down in Australia in the New South Wales Supreme Court. The decision in the case of Maiden Civil (P&E) Pty Ltd; Richard Albarran and Blair Alexander Pleash as receivers and managers of Maiden Civil (P&E) Pty Ltd & Ors v Queensland Excavation Services Pty Ltd & Ors [2013] NSWSC 852 provides guidance on the operation of the PPSA and how to resolve priority disputes.