fixed and floating charge

Priority issues and the Personal Property Securities Register

The introduction of the Personal Properties Securities Act 2009 (Cth) (PPSA) changed the landscape for secured creditors (Secured Parties) upon a debtor’s (Grantor) insolvency or bankruptcy.  In short, the PPSA allows Secured Parties to register their interests in a Grantor’s assets on the Personal Property Securities Register (PPSR).  Under the PPSA, it is registration of a security interest on the PPSR that (generally) determines the priority of Secured Parties in the event that the Grantor becomes insolvent or bankrupt. [Read more…]

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