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Oct 30, 2014

Understanding decisions of courts and liquidators’ actions relative to the PPSR and the PPSA is important for business operators

The Personal Property Securities Act (PPSA) has operated in Australia since 2012.  Since that time, there has been a number of court cases and significant non-court actions by liquidators, receivers and administrators utilising the PPSA and, in most cases, highlighting the lack of an effective registration on the Personal Property Securities Register (PPSR).

Because of the courts’ decisions and insolvency practitioners’ actions, millions of dollars have been lost by businesses, both large and small, mainly caused through ignorance of the operations of the legislation and the desirability for a registration to be made, if the loss of any asset or money owing to a business could cause financial embarrassment.