By now you may have heard about the upcoming amendments to the
Personal Property Security Act (Ontario) (the PPSA) coming
into force on December 31, 2015. Our focus is on the practical
implications of those changes and how they are going to affect
secured parties. These amendments change the rules in Ontario for
determining the "location" of a debtor and will have
implications for the validity, perfection and priority of security
interests perfected by registration under the PPSA.
Under the new PPSA rules, the location of a debtor is determined
based on the nature of the debtor in question. Specific rules are
set out to address the location of individuals, corporations,
partnerships, and other types of debtor, based generally on the
information available in public filings. The result of these
changes may be to shift the location of existing debtors for the
purposes of the PPSA. Accordingly, transition rules have been
provided to allow existing secured parties to
