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ARTICLE · 11 JANUARY 2021

Ontario Amends PPSA To Avoid Vexatious Registrations

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On December 8, 2020, a new Part V.1 was added to the Personal Property Security Act (Ontario) (the PPSA) to safeguard against vexatious registrations...

CanadaFinance and Banking
Jason Arbuck
Jason Arbuck
Jonathan Fleisher
Jonathan Fleisher
Carla Potter
Carla Potter
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On December 8, 2020, a new Part V.1 was added to the Personal Property Security Act (Ontario) (the PPSA) to safeguard against vexatious registrations.1 The amendments give the registrar the power to discharge a vexatious registration or to reject a document if the result would be a vexatious registration. The amendments reduce the economic burden on debtors and secured parties as they allow a vexatious registration to be discharged without going to court. While this amendment may protect debtors from being harassed by secured parties, it also may protect secured parties from having to assume the risk of funding into a scenario where there is an old or erroneous PPSA registration against their debtor that amounts to a vexatious registration and that has yet to be correctly discharged by the prior secured party.

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