Personal Property Securities Act 2009 (PPSA)

Services and Expertise

The PPSA affects most businesses and all industries. Our team has in depth experience to reflect the broad nature of the PPSA's application, including lawyers with a background in commercial, property, intellectual property, banking and finance, insolvency and disputes.

Our team can help in relation to all aspects of the PPSA, from considering how it applies to your business and preparing terms and conditions, to obtaining the removal of incorrect PPS registrations and determining priority rankings of creditors. We also provide practical, 'hands on' training to help your team apply the PPSA in their day-to-day tasks.

We assist a range of clients with their PPSA issues, including suppliers and lessors of goods, manufacturers and producers of goods, businesses in mining, extractive and construction, banks, financiers and insolvency practitioners.

In doing so, we regularly present on the application of the PPSA to specific industries and have produced the PPSA Practical Survival Guide for Insolvency Practitioners.

Areas of Legal Expertise

Our expertise includes:

• the application of the PPSA to a business and its operations, including what needs to be registered and how
• providing hands on training, including How to Register on the PPS Register
• preparation of, and amendment to, terms and conditions to ensure PPSA compliance
• assistance with the development of practical business protocols to ensure PPSA compliance
• determining the effect of the PPSA on retention of title, lease and bailment interests
• determining whether assets have been purchased free of security interests, or subject to prior interests
• assistance with obtaining the removal of incorrect PPS registrations

• advising insolvency practitioners on matters including what assets are available, characterising interests, retention of title and priority disputes.

Additional Services

In addition to legal services, we offer clients a range of complementary services including:

• providing the Cornwall Stodart PPSA Survival Guide for Insolvency Practitioners
• providing regular practical updates
• conducting seminars, both in house and for clients' marketing purposes.

Experience

• acting on behalf of clients to have incorrect registrations removed by banks, suppliers and other parties
• conducting practical PPSA training sessions for key staff of numerous clients, including in the mining, extractive, retail, fabric, importing, manufacturing, construction and insolvency industries
• preparation of PPSA implementation action plans for complex corporate structures
• review, amendment and preparation of trading terms and agreements (including trading, escrow, leases and service agreements) for clients including Spotlight, Mancala mining, Ericsson Australia, Fulton Hogan
• advising and acting on behalf of administrators, receivers and liquidators regarding asset availability, retention of title claims and priority distributions

• acting on behalf of suppliers including Yamaha Music Australia and Directed Electronics to assert retention of title rights in administrations, receiverships and liquidations.