Welcome to the ADLS Store

Topics:

• The Scope of the Act
• What is a security interest?
• What is an account receivable?
• Recent case law - eg
• North Shore City Council v Stiassny
• Feltex
• Registrations
• Legal Requirements
• Significance of Registration
• Registering a Financing Statement
• Mistakes/Seriously misleading statements
• Debtor Details
• Expiry of Financing Statements
• Expiry of Financing Statements
• Practical Issues
• Ltd liability companies - validation on registration
• Other organisations - no validation
• Example - Ltd Partnerships - organisation type "other" and not "partnership"
• Problems with names of sole traders and individuals
• Special rules for motor vehicles
• "Industry" error rate for vin and reg number 30%
• Risk of reg number changing
• The need to monitor for expiry
• Have to have systems
• May no longer act for client
• May not have current address
• Risk of accepting appointment as person "acting on behalf"
• Obligations - such as provide information
• Time bound tasks - name changes of debtor
• Time bound tasks - change demands
• Debtor service issues - discharges
• Enforcement
• Legal requirements
• Scope of Part 9 - Enforcement of security interests
• Credit Repossession Act
• Receivers
• Interface with Property Law Act 2007
• Mortgages of goods
• PLA 2007 amendments to PPSA
• Restriction on remedies
• Practical Issues
• Getting ready to enforce
• Signed terms of trade
• Financing statement
• Allocation of payments received from debtor
• Unpaid invoices and details of goods which make up the claim
• Consider method of identifying goods
• Issues of scope - arguments over whether PPSA applies
• Lease of more than 1 year
• Bailments
• Deficient documentation
• Identifying and dealing with competing creditors
• Notice to provide information
• Change demand on company
• Change demand entered into the register
• Consequences
• Preferential Creditor Regime
• Marshalling
• Imported goods
• Subject to a security interest
• The '30 day rule'
• Conflict of laws
• Canada
• Australia