In the matter of OneSteel Manufacturing Pty Limited
(administrators appointed) [2017] NSWSC 21
OneSteel Manufacturing Pty Ltd (OneSteel)
rented a crushing and screening plant from Alleasing Pty Ltd
(Alleasing), pursuant to a lease agreement it
signed in 2014 which had a six-year term. The entire setup of the
hired plant equipment was funded by Alleasing, at OneSteel's
request, for a total cost of $23,329,765. Two years into the hire
agreement, in April 2016, OneSteel appointed administrators.
When Alleasing registered its security interest that arose in
accordance with the Personal Property Securities Act 2009
(Cth) (PPSA) in October 2014, it used
OneSteel's Australian Business Number (ABN)
rather than its Australian Company Number (ACN).
The staff member who registered the security interests was not
aware of the difference between the treatment of an ABN and an ACN,
nor of the legislative requirement to use an ACN during the PPSA
registration process.
