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Personal Property Securities Act (PPSA) - it's now a reality that title is no longer "king" |
The PPSA has been a long time in the making and given the lack of publicity about it, is likely to cause very unjust outcomes. Long held understandings are turned on their head.
For example, if your personal property is hired, licensed or supplied to another and the recipient becomes insolvent and you don't have a perfected (usually by registration) interest in your property under the PPSA, effectively your ownership vests in the insolvent entity (even if you haven't been paid). That's right, your ownership interest moves to the insolvent person or entity and the insolvency administrator of your customer is able to then sell the property and keep the proceeds. You, the owner, miss out entirely.
Business owners need to take some swift legal advice of how the PSSA affects them and how their business practices need to change. Read more in the Legal Resource Section of our web site. |
Proposed Fundraising reform for Charities |
Treasury issued a discussion paper on 12 February 2012 - Charitable fundraising regulation reform.
Read more ... |
eCommerce - Tips for online contract formation |
What is needed to form a valid contract online?
Read more ... |
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Phone: (07) 3252 0011
Email: Email Us
Web: www.corneyandlind.com.au
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