The Personal Property Securities Act 2009 (Cth) establishes a set of rules to determine the priority between competing security interests. These rules generally provide that a purchase money security interest ...
The Personal Property Securities Act 2009 (Cth) establishes a set of rules to determine the priority between competing security interests. These rules generally provide that a purchase money security interest (PMSI) over collateral that is perfected by registration will have priority over a non PMSI security interest that is granted
Bank guarantees are frequently given as security in commercial transactions because they are widely regarded as being ‘like cash’. However, the Queensland Court of Appeal’s recent decision in Santos Limited v BNP Paribas confirms that compliance with the terms of a bank guarantee is an essential precondition to payment on
In business it is not uncommon for a director of a company to be owed money by that company. If the commercial relationship breaks down, the director may think it is an option to serve a creditor’s statutory demand on the debtor company.
Cooper Grace Ward is celebrating the New Year with the announcement of four new promotions including two associates and two senior associates.
The Personal Properties Securities Register (PPSR) will be seven years old on 30 January 2019; accordingly, security interests with seven year registration periods will, unless renewed, expire from 30 January 2019.
Digital currency exchange providers will be forced to enrol and register with Australian Transaction Reports and Analysis Centre (AUSTRAC) under new laws that came into effect on 3 April 2018.
Topics discussed: Market value of repossessed commercial vehicle and steps taken to sell vehicle & Increasing a credit card limit where the funds were used for gambling
Topics discussed: Listing a default with credit reporting agencies & Hardship application – superannuation
It is common in construction and commercial leasing transactions for a party to provide an unconditional bank guarantee to secure the performance of their contractual obligations.
It is common for commercial contracts to contain ipso facto clauses, which allow a party to terminate or modify the terms of the contract where the other party experiences an insolvency event. A concern addressed by the Government is that these clauses can prevent a financially distressed company from turning
In a recent case in the District Court of Queensland, a lender failed to prove it had served default notices. The lender was unsuccessful in obtaining summary judgment for the loan debt and possession of the mortgaged property.
The High Court’s recent decision in Ramsay Health Care Australia Pty Ltd v Compton [2017] HCA 28 has confirmed a bankruptcy court can exercise a discretion to go behind the judgment debt where sufficient reason is shown for questioning whether there is a debt due to the petitioning creditor.
Cooper Grace Ward acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.
Fast, accurate and flexible entities including companies, self-managed superannuation funds and trusts.