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ARTICLE · 27 JANUARY 2022

Three tips to get paid in 2022

Madgwicks
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Article offers three strategies to put you in the best position to protect your business.

AustraliaCorporate/Commercial Law
Catherine Ballantyne
Catherine Ballantyne

2022 is upon us and COVID-19 is still dominating our businesses and lives.

With many businesses struggling, cash flow is vital to keeping a business healthy. You need to set yourself up now to put yourself in the best position possible to recover debts and keep your business with a steady cash flow.

This article looks at three strategies to put you in the best position to protect your business.

  1. Review your contracts

    1. Have you registered all security interests granted under the contract? Be aware of the Personal Properties Securities Act - seek legal advice as to whether you are able to register your interest on the Personal Properties Securities Register ("PPSR") and ensure it is done correctly and as soon as possible. If your customer enters into liquidation and your registration on the PPSR is valid, you may become a secured creditor and be paid ahead of unsecured creditors.

      Tip - Ensure that your PPSR interest is registered over the

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Madgwicks is a member of Meritas, one of the world's largest law firm alliances.

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