Security Briefing: Court Cuts Slack for Late Registrations in Early Days of PPSA — Re Barclays Bank Plc
Security Briefing: Court Cuts Slack for Late Registrations in Early Days of PPSA — Re Barclays Bank Plc (2012) 13 (5) 111
5 Pages Posted: 21 Jun 2013
Date Written: 2012
Abstract
The second (known) PPSA case has been decided. Like Carson, Re Hastie Group Ltd. (No. 3) (Hastie), reported by Phillip Pan and Cameron Mew in their article, “Balancing of Objectives and Interests in an Administration Under PPSA — the Hastie Group Case,” in the September issue, this case concerned provisions of the Corporations Act 2001 (Cth). Unlike Hastie, where Yates J. should have considered the relevant provisions of the PPSA, but decided the case under Pt 5.3A Corporations Act, Re Barclays Bank plc, Black J., August 24, 2012, directly concerned the effect of registration under the Personal Property Securities Register, more particularly, the consequences for failing to register corporate security interests within the time period laid down in s 588FL Corporations Act.
Keywords: Personal Property Securities Act 2009-court's approach to applications for late registration of corporate security interests under Corporations Act s 588FM
JEL Classification: K41, K22, K11
Suggested Citation: Suggested Citation