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ARTICLE · 11 MARCH 2016

PPS leases: Are you at risk of losing your assets?

Holding Redlich
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If your assets are in the possession of another person, familiarise yourself with the PPSA so that you know your rights.

AustraliaFinance and Banking
Suzy Cairney
Suzy Cairney
Scott Alden
Scott Alden
Sarah Shirley
Sarah Shirley
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If you thought you did not need to register your interest if your assets are in the possession of a third party, then you might need to reconsider. Otherwise you risk losing your property. 

The decision of Forge Group Power Pty Limited v General Electric International Inc [2016] NSWSC 52 handed down in February in the Supreme Court of New South Wales raises significant issues regarding the construction and operation of important exclusionary provisions of the Personal Property Securities Act 2009 (Cth) (PPSA).

Background

The PPSA governs security interests in personal property, such as generators, plant or scaffolding, where that property is in the hands of a third party. 

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