Important proposed amendments to the meaning of a ‘PPS Lease’ in the Personal Property Securities Act. ...
Important proposed amendments to the meaning of a ‘PPS Lease’ in the Personal Property Securities Act.
Recently the New South Wales Court of Appeal considered whether a director was liable under a guarantee in a credit application where his electronic signature had been affixed to the guarantee without his knowledge.
On 6 February 2017, the New South Wales Court of Appeal dismissed an appeal against the well-known decision of the Supreme Court where a lessor lost its interest in turbines (worth US$44 million) because of its failure to register on the Personal Property Securities Register (PPSR).
The Financial Ombudsman Service Australia (FOS) deals with a range of disputes including banking, credit, loans, insurance and financial planning.
The Queensland Government is holding community and industry consultation and inviting feedback on a series of proposed reforms for the Queensland building and construction industry.
Last week the Supreme Court of New South Wales provided another timely reminder to ensure that all security interests are correctly registered on the Personal Property and Securities Register (PPSR) through the decision In the matter of OneSteel Manufacturing Pty Ltd (administrators appointed) [2017] NSWSC 21.
Failing to register a lessor’s security interest on the PPSR over plant and equipment at leased premises can result in the lessor’s unperfected security interest passing to the administrator of the lessee.
In the recent case of Hadley v BetHQ Pty Ltd [2016] FCA 1263, the debtor company, BetHQ, came to grief when a statutory demand was validly served at the company’s registered office in Brisbane as shown in ASIC records.
In the recent case of Ross v Gippsreal Ltd [2016] VSC 753, the receiver claimed professional fees in the order of $200,000.
A recent Court of Appeal decision provides a firm reminder to the banking industry that the obligations in the Code of Banking Practice impose strict legal obligations that lenders must adhere to in dealings with guarantors.
In our previous bulletin we discussed the ‘safe harbour’ model in the Government’s suggested reforms to the current insolvency laws. This bulletin considers another of the focus questions in the Proposal Paper: the voiding of ipso facto clauses relating to insolvency events.
On 29 April 2016, the Federal Government released a Proposals Paper titled ‘Improving bankruptcy and insolvency laws’.
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.