PPSA – intro to provisions and relevance in buying a business

This is a presentation delivered by Dr William Higgs (Barrister-at-Law, Elizabeth Street Chambers) and Alex Chernishev (Senior Associate, Mills Oakley) on the personal properties securities act (PPSA) and its relevance in buying and selling businesses.

The presentation provides an overview of the PPSA and PPSR and key issues in the PPS for the sale of business, such as.

-Does the transaction include personal property?
-What is (or are) the security interest/s relevant to the transaction?
-Who are the parties (in particular, who is the grantor, the debtor (if different from the grantor) and the secured party)?
-Has attachment occurred? (If so, the security agreement will generally be enforceable between the parties but not, without more, as against third parties).
-How might perfection be (best) achieved? Has perfection in fact occurred?
-How should these issues be addressed in the sale agreement

.

The presentation was delivered as a CLE to the College of Law on 27 March 2015 as part of their Business Law Intensive “Uncovering critical issues with the PPSA: can you afford not to register?”.

PPSA Intro and Businesses