Focus: Court considers the Personal Properties
Securities Act 2009 (Cth)
Services:
Dispute resolution & litigation,
Financial services,
Insurance,
Property & projects
Industry Focus:
Financial services,
Insurance,
Property
In the recent case of Dura v Hue1 the
Victorian Court of Appeal considered the rights of a judgment
creditor to funds that had earlier been set aside by the judgment
debtor as a condition of a stay of execution of judgment.
The Court of Appeal considered in depth the application of the
Personal Property Securities Act 2009 (Cth)
(PPSA) in relation to the rights to the funds.
Despite the Court finding that no security interest in the funds
existed due to the absence of a 'consensual transaction',
the case presented helpful guidance on the interpretation of the
PPSA in relation to security interests over funds placed in a
jointly controlled separate account.
