Cardinia Nominees Pty Ltd

CITATION [2013] NSWSC 32JUDGE/S BLACK J Application under Corporations Act s588FM to fix a later time for registration in respect of security interests granted by Inika, where registration was made 5 days late for reasons including uncertainty as to which party should make the registration.  The court made the order. Unlike Re Barclays Bank plc […]

Cancer Care Institute of Australia Pty Ltd

CITATION [2013] NSWSC 37JUDGE/S BLACK J Varian Medica Systems Australiasia Pty Ltd supplied linear accelerators (equipment used for cancer treatment) to CCIA under a perfected purchase money security interest. The linear accelerators were large items, bolted to a steel frame, removeable but only with a couple of days’ work and $60,000 of expenditure. CCIA’s operations […]

Blakeley V Yamaha Music Australia Pty Ltd

CITATION [2016] VSC 231JUDGE/S GARDINER AsJ Australian Music Pty Ltd bought goods on retention of title terms from Yamaha. The liquidators of Australian Music claimed payments made to Yamaha for the goods were unfair preferences ‘in respect of an unsecured debt’ Corporations Act, s588FA. Yamaha sought to have the liquidators’ proceedings struck out on grounds […]

Arrium Limited

CITATION [2016] FCA 972JUDGE/S DAVIES J Administrators of OneSteel Manufacturing Pty Ltd, an Arrium group company, sought orders under Corporations Act s447A relieving them from personal liability for entering into contracts to install a beneficiation plant, and a secured loan to fund it. The court granted the order.  The administrators also sought an extension under […]

Amerind Pty Ltd

CITATION [2017] VSC 127JUDGE/S ROBSONJ . Amerind, acting as trustee, granted security to a bank to secure invoice financing arrangements. The bank’s security was perfected.  Amerind went into administration and the bank appointed receivers. The Commonwealth Department of Employment contended that various assets were subject to a circulating security interest and so subject to employee […]

Alleasing Pty Ltd V Onesteel Manufacturing Pty Ltd

CITATION [2017] FCA 656JUDGE/S DAVIES J OneSteel, subject to deed of company arrangement, agreed to grant a security interest to Alleasing (replacing an earlier security interest which had vested on administration due to ineffective registration). Although a registration for the new security interest was made promptly, the security interest (being granted by a company subject […]

Duke Contracting Australia

Citation [2017] NSWSC 767JUDGE/S BRERETON J Application under s293(1)(a) to extend the 15 business day period under s62(3)(b) for PMSI registrations of security interests granted by Duke’s trust to Komatsu Australia Corporate Finance Pty Ltd, where registration was originally made against Duke’s ACN, but not made against its trust’s ABN until more than 15 business […]

Credit Term Suppliers

Selling goods on credit terms subject to retention of title There are very powerful benefits available to suppliers of goods to customers on credit terms subject to Retention of Title (“ROT”) that register on the Personal Property Securities Register (“PPSR”) and the loss of previously available debt recovery sources for those that do not. The […]

Renters of Equipment

Supplying equipment on lease, rental or bailment terms The Personal Property Securities Act (“PPSA”) is was introduced on 30 January 2012 and the Personal Property Securities Register (“PPSR”) opened that same day. The legislation is extremely harsh on equipment renters and bailers (parties that provide equipment on loan to a customer as part of a […]