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ARTICLE · 14 MARCH 2012

PPSA: Let's be friends

Gadens Lawyers
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This article outlines some of the common issues Secured Parties are facing as they adapt to the new PPS regime.

AustraliaFinance and Banking
Anthony Walsh
Anthony Walsh
Benjamin Kim
Benjamin Kim

Gadens Lawyers outlines some of the common issues Secured Parties are facing as they adapt to the new PPS regime.

The Personal Property Securities Act 2009 (Cth) (PPSA) commenced on 30 January 2012. It replaced most existing Commonwealth, state and territory laws and registers for company charges, bills of sale, ship mortgages, motor vehicle securities, crop liens, stock mortgages and other securities affecting tangible and intangible personal property.

This rationalisation of laws and registers has lead to new issues and speed humps when security is taken or provided over personal property. As the market slowly adapts to these changes we wanted to highlight some of the common issues being faced by Secured Parties.

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