fixed and floating charge

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…]