A Generous Interpretation of Collateral
Business School, University of Exeter, Accounting Working Paper No. 06/08
18 Pages Posted: 10 Aug 2008
Date Written: February 27, 2007
This study offers an examination of the decision and implementation in New Zealand of a personal property security regime based in North American Article 9 Models, with specific focus on the approach in force in Saskatchewan at that time. Subsequent to the New Zealand Personal Property Securities Act 1999 coming into force in 2002, a number of cases have considered the conflicting nature of creditor interests in personal property. The research question underlying this study is "Has the new personal property security in New Zealand achieved what it set out to do?" The paper considers this developing jurisprudence and any implications of these decisions for financial reporting when the going concern assumption is under question.
Keywords: North America Article 9 Models, race horses, stallions, leasehold property, Saskatchewan, New Zealand, Personal Property Securities Act 1999
JEL Classification: M40, K12
Suggested Citation: Suggested Citation