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SPER registering PMSI’s

Anecdotally we are noticing an uptick in QLD State Penalties Enforcement Registry actions whereby personal property (like trucks and motor vehicles) are having security interests registered against them by SPER for relatively small debts (say less than $10k). According to SPER, their enforcement action rights include the ability to register a security interest on the…

Court confirms the super power of PMSI’s

Purchase Money Security Interests (“PMSI”) really do have a super power, according to a Full South Australian Court decision handed down on Friday. Case name: Samwise Holdings v Allied Distribution Finance [2018] SASCFC 95 The Court granted a PMSI holder a priority over 40 motorcycles above a first-in-time registered general security holder. The facts were:…

PPS registrations to expire on-mass soon!

A huge volume of PPS registrations are due to automatically expire over the next 18 months – is your business ready? AFSA¬†(being the government department responsible for the #PPSR) has recently released a set of statistics showing the number of registrations that will automatically lapse, if you don’t take positive steps to renew your registrations.…