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ARTICLE · 24 SEPTEMBER 2024

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PPSA Series: Do You Have A PPSA Security Interest?

Vincent Young
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In the matter of Qenos Pty Ltd (Administrators Appointed) [2024] NSWSC 483 is a helpful case which analyses when a security interest may or may not arise under the Personal Property Securities Act 2009 (Cth) (PPSA).

AustraliaCorporate/Commercial Law
David Greenberg
David Greenberg

In the matter of Qenos Pty Ltd (Administrators Appointed) [2024] NSWSC 483

In the matter of Qenos Pty Ltd (Administrators Appointed) [2024] NSWSC 483 is a helpful case which analyses when a security interest may or may not arise under the Personal Property Securities Act 2009 (Cth) (PPSA).

Facts of the Case

Ethylene is a petrochemical used to produce polymers, industrial chemicals and to ripen fruit.

Under a formal supply agreement, Qenos manufactured and supplied Indorama with ethylene for many years. Indorama used that ethylene to manufacture industrial chemicals.

In February 2023, Qenos shut down its ethylene production following a major failure in a cooling water pipe.

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