Welcome to January 2019, the anniversary of the 7-year PPSR registrations. Have you got your renewals sorted? If you need some further information to inspire you to get your registrations sorted or just want to scope out the statistics, AFSA has released the quarterly December 2018 PPSR stats. Highlights of the report As of December […]
The Personal Property Securities Register recently announced that they have hit 10 million registrations! Along with that news, the seven-year anniversary of PPSR is fast approaching in January, which means that there is going to be an influx in expirations and renewals. To give you a further idea of just how big the PPSR and […]
What is an Unfair Preference? Essentially, an unfair preference is when a creditor, within the six months before a company goes into administration or liquidation, receives payment(s) from that company that is more than they would receive if the payment(s) hadn’t occurred and they proved for their full debt in the liquidation. The “unfair preference” […]
If you didn’t catch our Part 2 webinar series on PPSR: Getting It Right, here is a summary of the main points we covered. Recently, Paul Mead, CreditorWatch PPSR Specialist and Terry Ledlin, Special Counsel at Ledlin Lawyers, held the second webinar of the PPSR series which explored the importance of registering accurately, avoiding common […]
A huge volume of PPS registrations are due to automatically expire over the next 18 months – is your business ready? AFSA (being the government department responsible for the #PPSR) has recently released a set of statistics showing the number of registrations that will automatically lapse, if you don’t take positive steps to renew your registrations. I have modelled […]
The Personal Properties Securities Act (PPSA) has a reputation of being a confusing topic, even for lawyers. It is vital to ensure that registrations are completed with accurate information. However, that isn’t the only point to keep in mind. The notable case study examples listed below highlight some other points to consider. 1. Registering […]
Our recent webinar featuring Paul Mead (our CreditorWatch PPSR expert) and Terry Ledlin (Special Counsel of Ledlin Lawyers) was a great success and one of our most attended webinars ever. In case you missed it, the Personal Property Securities Act (2009) (PPSA) requires you to think differently about how you protect your goods. Here is […]
The introduction of the Personal Property Securities Register (PPSR) was meant to make life easier for secured creditors, credit managers, trading creditors and other stakeholders. But as many in the industry can attest too, this is rarely the case. At the recent presentations I gave at the CreditorWatch roundtable luncheons in Sydney and Melbourne, many […]
The federal government has recently introduced a “new” hotline for anyone to report businesses that they believe are undertaking phoenix activity. This comes as a 2018 report from PricewaterhouseCoopers, funded by the government, revealed that the estimated annual cost of phoenix activity was now $5.13 billion dollars. In 2012, the annual cost was between $1.8 […]
The Personal Property Securities Act (PPSA) can be very confusing for lawyers and even more so for the average person. The PPSA is designed to allow personal property (not real estate, but goods, chattels and certain rights) to be used as security for a financial transaction. It is a very useful tool to ensure you […]