Where's Waldo: New Ontario PPSA Debtor Location Rules Finally Coming Into Force

On December 31, 2015 (the "proclamation date") some important and long-awaited amendments to the conflict of laws provisions in the Personal Property Security Act (Ontario) (the "PPSA") will finally be proclaimed into force.¹ The much-needed changes will set out clear rules for determining where a debtor is located for the purpose of identifying what law governs the validity, perfection and priority of security interests in certain types of collateral described in section 7(1), which includes intangibles (such as accounts receivable and contract rights) and mobile goods and non-possessory security interests in instruments and chattel paper (referred to in this bulletin as "section 7(1) collateral"). Knowing the location of the debtor for section 7(1) collateral is critical because it determines where to register a PPSA financing statement and where to do a PPSA search. The types of collateral for which debtor location is relevant will remain unchanged, but under