PPSA Six Months On - Taking Stock
The Personal Property Securities Act 2009, possibly the most important change to commercial law in 25 years or more, will have been in force for six months by August 2012. Whilst this is too early to assess its impact, it is not too early to identify practical concerns and issues that have arisen already, and offer some solutions for these; also to address some misconceptions about the purpose and operation of aspects of the PPSA, and predict some areas for litigation and legislative clarification in the next few years.
In particular, the presenter will draw on his recent research and teaching of the subject in Canada (which has had PPSA systems for over forty years), as well as on recent New Zealand cases. The focus will be on applying this to legal and practical difficulties that can and will occur in Australia. Areas covered include the scope of ‘security interests’, some registration and searching issues, the ‘ordinary course of business’ transfer rule, protecting multiple security agreements, problems of proceeds in inventory PMSIs, and aspects of enforcement.
Presenter: Associate Professor David Brown
David Brown is a Co-Director of Bankruptcy and Insolvency Law Scholarship Unit at Adelaide Law School. He is a member of the Law Council’s Insolvency and Restructuring Committee. He has taught the PPSA at Adelaide Law Masters programme, and at the University of Toronto. Previously an academic in England and New Zealand, he has published locally and internationally on the PPSA. He has presented at national and international conferences and workshops including the Law Society of SA, and conducted national training for ASIC, Insolvency Practitioners Association , and the Insolvency and Trustee Service. He is co-author with Professor Anthony Duggan of a forthcoming LexisNexis book, ‘Australian Personal Property Securities Law’, to be published in November 2012.
Commentator: Peter Macks, Principal, Macks Advisory, Adelaide
Peter is a highly experienced advisor, with over 25 years experience in the insolvency and restructuring industry during which time he has been involved in some of the largest and most complex matters in South Australia and the Northern Territory.
The event will attract 1 CPD point.
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