PPS in Practice

Book excerpt: PPS in Practice is a considered and authoritative treatment of the practical operation of the Personal Property Securities Act 2009 (Cth) - and how it applies to ordinary commerce. Authored by commercial lawyers, Nicholas Mirzai and Christopher Athanassios, this innovative and accessible text is designed to assist legal professionals, insolvency practitioners, corporate counsel, accountants, compliance officers, business owners and students to understand which parts of the Act are of most concern for each relevant stakeholder - and in what circumstances. The text is divided into a number of discrete parts addressing both transactional and litigation aspects of the regime and how to establish best practices. Topics covered include how to draft security agreements, how to properly lodge financing statements on the PPSR, the amendment demand process - what it means and how to deal with security interests taken by businesses and against businesses and how to address erroneous registrations, enforcement and litigation. For those with a detailed understanding of the PPSA and its foundational concepts, the text usefully contains a number of annexures which provide precedent language for drafting, checklists to ensure all appropriate steps are being observed and taken (in appropriate circumstances) and examples of template correspondence from the perspective of experienced practitioners.