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INTANGIBLE PROPERTY
Short Summary. In this case the Federal Court confirmed, perhaps unsurprisingly, that intellectual property, as an intangible, is “personal property” for the purposes of the PPSA and capable of being subject of a security interest by means of retention of title. The defendant, GrowthOps, argued that a “conditional sale agreement PPSA | MARK MCKILLOP BARRISTER The case involved the sale of various business and assets of the failed Sargon Group. Sargon Group promoted itself as a “tech-driven trustee services, fund operations and custodial services” business with more than $55 billion in assets under trusteeship or supervision. Mesopotamian King Sargon ponders the meaning of “securityinterest”.
BRIEF TO COUNSEL
A barrister is briefed for specialist advocacy skills or for advice, or both. Both advocacy and the giving of advice involve the communication of ideas in a clear and simple form. An advocate uses those ideas to persuade, whilst counsel preparing an advice uses them to inform and advise. In both cases the barrister must master therelevant
COMMON ISSUES WITH THE PPSA AND HOW TO DEAL WITH THEM AS A I recently presented a video podcast with my learned friend and fellow barrister Amanda Carruthers on the topic “PPS Issues in Insolvency”: see below. The format is to highlight the frequent PPSA issues that we see as barristers and how best to tackle them as apractitioner.
PERSONAL PROPERTY SECURITIES ACT 2009 Sandhurst Golf Estates Pty Ltd v Coppersmith Pty Ltd VSC 217. Initial registration of a financing statement on the PPSR is very easy. You simply go to the Personal Property Securities Register (PPSR) website and follow the links, enter the prescribed data, pay a small fee and hit a button or two.The ease of registration, compared to a paper based registry such as land titles or the JUNE | 2016 | MARK MCKILLOP BARRISTER Attached to the 24 April 2016 email was a copy of a Security Deed (titled “Distributor License Purchase Vendor Finance Performance Security Deed”) which purported to be a charge granted by NAB in favour of OenoViva and Mr Garrett as trustee for the Andrew Garrett Family Trust ABN 78 761 760 976. The Security Deed relevantly statedthat
WHAT CAN CREDITORS DO IF THE “OFFICIAL RECEIVER” IS THE I've recently had a number of clients ask me questions about the Official Receiver as a bankruptcy trustee in relation to debtors they are chasing. The Official Receiver is a statutory appointee who acts as trustee in bankruptcy for debtors where there is no private appointment of an insolvency practitioner. In effect, the OfficialReceiver
THE RELATION BACK DAY CAN BE MANIPULATED BY A PRIOR VA Liquidators, creditors and directors are very conscious of the "Relation Back Day" in liquidation. It is the day on which the six month "preference period" for the recovery of preferences from creditors ends. It is also the day on which certain longer periods for undoing certain related party transactions involving directors and their associates ends. MARK MCKILLOP BARRISTER Commentary on insolvency, commercial and PPSA law. Photo by mark glancy on Pexels.com. The insolvency reforms aimed at helping small businesses through insolvency, passed in the The Corporations Amendment (Corporate Insolvency Reforms) Act 2020, commenced on 1 January 2021 without much take up.. On Monday 1 February 2021 I had the pleasure of speaking with the the CPA PPSA CASE LAW UPDATE Profile Picture Last week I delivered an update on developments in PPSA case law to an audience at Leo Cussens, an update I present twice each year. The seminar covered 10 recent cases and was part of a morning of presentations on the PPSA by various speakers. A copy of the paper and overheads presentedINTANGIBLE PROPERTY
Short Summary. In this case the Federal Court confirmed, perhaps unsurprisingly, that intellectual property, as an intangible, is “personal property” for the purposes of the PPSA and capable of being subject of a security interest by means of retention of title. The defendant, GrowthOps, argued that a “conditional sale agreement PPSA | MARK MCKILLOP BARRISTER The case involved the sale of various business and assets of the failed Sargon Group. Sargon Group promoted itself as a “tech-driven trustee services, fund operations and custodial services” business with more than $55 billion in assets under trusteeship or supervision. Mesopotamian King Sargon ponders the meaning of “securityinterest”.
BRIEF TO COUNSEL
A barrister is briefed for specialist advocacy skills or for advice, or both. Both advocacy and the giving of advice involve the communication of ideas in a clear and simple form. An advocate uses those ideas to persuade, whilst counsel preparing an advice uses them to inform and advise. In both cases the barrister must master therelevant
COMMON ISSUES WITH THE PPSA AND HOW TO DEAL WITH THEM AS A I recently presented a video podcast with my learned friend and fellow barrister Amanda Carruthers on the topic “PPS Issues in Insolvency”: see below. The format is to highlight the frequent PPSA issues that we see as barristers and how best to tackle them as apractitioner.
PERSONAL PROPERTY SECURITIES ACT 2009 Sandhurst Golf Estates Pty Ltd v Coppersmith Pty Ltd VSC 217. Initial registration of a financing statement on the PPSR is very easy. You simply go to the Personal Property Securities Register (PPSR) website and follow the links, enter the prescribed data, pay a small fee and hit a button or two.The ease of registration, compared to a paper based registry such as land titles or the JUNE | 2016 | MARK MCKILLOP BARRISTER Attached to the 24 April 2016 email was a copy of a Security Deed (titled “Distributor License Purchase Vendor Finance Performance Security Deed”) which purported to be a charge granted by NAB in favour of OenoViva and Mr Garrett as trustee for the Andrew Garrett Family Trust ABN 78 761 760 976. The Security Deed relevantly statedthat
WHAT CAN CREDITORS DO IF THE “OFFICIAL RECEIVER” IS THE I've recently had a number of clients ask me questions about the Official Receiver as a bankruptcy trustee in relation to debtors they are chasing. The Official Receiver is a statutory appointee who acts as trustee in bankruptcy for debtors where there is no private appointment of an insolvency practitioner. In effect, the OfficialReceiver
THE RELATION BACK DAY CAN BE MANIPULATED BY A PRIOR VA Liquidators, creditors and directors are very conscious of the "Relation Back Day" in liquidation. It is the day on which the six month "preference period" for the recovery of preferences from creditors ends. It is also the day on which certain longer periods for undoing certain related party transactions involving directors and their associates ends. ABOUT | MARK MCKILLOP BARRISTER Mark McKillop is a barrister at the Victorian Bar. For his Victorian Bar website profile and contact details, including a list of recent cases, click here. Mark accepts briefs in all commercial matters, particularly in insolvency, banking, corporations, property and taxation litigation. Mark McKillop accepts briefs as Counsel and as Mediator in all commercial matters, PPSA CASE LAW UPDATE Profile Picture Last week I delivered an update on developments in PPSA case law to an audience at Leo Cussens, an update I present twice each year. The seminar covered 10 recent cases and was part of a morning of presentations on the PPSA by various speakers. A copy of the paper and overheads presentedMARK MCKILLOP
Some of the interesting decisions include: Keon Pty Ltd as trustee for Keon Family Trust v Goldfields Equipment Pty Ltd (In Liquidation) WASC 61, a harsh lesson for a lender relying on an (undrafted) agreement to provide a charge as a security interest (the lender failed). Allied Master Chemists of Australia Limited, Re NSWSC 291, an extension of time case under s588FM where PPSA | MARK MCKILLOP BARRISTER The case involved the sale of various business and assets of the failed Sargon Group. Sargon Group promoted itself as a “tech-driven trustee services, fund operations and custodial services” business with more than $55 billion in assets under trusteeship or supervision. Mesopotamian King Sargon ponders the meaning of “securityinterest”.
PPSA UPDATE
PPSA Update – February 2020 Paper. Leave a reply. In February 2020 I delivered a now annual seminar providing an update on recent PPSA developments at the Leo Cussen Institute. The seminar covered three interesting recent cases: Bluewaters Power 1 Pty Ltd v The Griffin Coal Mining Company Pty Ltd. WASC 438 (Bluewaters) COMMON ISSUES WITH THE PPSA AND HOW TO DEAL WITH THEM AS A I recently presented a video podcast with my learned friend and fellow barrister Amanda Carruthers on the topic “PPS Issues in Insolvency”: see below. The format is to highlight the frequent PPSA issues that we see as barristers and how best to tackle them as apractitioner.
EXPOSURE DRAFT OF THE COVID INSOLVENCY REFORMS RELEASED I would not ordinarily post a link to something I had not read, but this is a pandemic! The Commonwealth announced its proposed insolvency law reforms just 2 weeks ago and has now released an exposure draft of the amending legislation together with an explanatory memorandum. Submissions on the draft are due on Monday, 12 JULY | 2013 | MARK MCKILLOP BARRISTER On 24 March 2013 I completed one of my bucket list ambitions, an Ironman triathlon. Thanks to a number of donors I managed to raise $1,580 for the red cross in the process. FEBRUARY | 2012 | MARK MCKILLOP BARRISTER 5 posts published by Mark McKillop during February 2012. Another question that I pondered over fish and chips at the beach these holidays was the impact of online sales on STOPPING SHAM PPSR REGISTRATIONS The registration of the financing statement followed NAB’s receipt of an email from Mr Garrett on 24 April 2016 in which Mr Garrett stated that he intended to register a charge on the PPSR over NAB’s property. Attached to the 24 April 2016 email was a copy of a Security Deed (titled “Distributor License Purchase Vendor FinancePerformance
MARK MCKILLOP BARRISTER Commentary on insolvency, commercial and PPSA law. Photo by mark glancy on Pexels.com. The insolvency reforms aimed at helping small businesses through insolvency, passed in the The Corporations Amendment (Corporate Insolvency Reforms) Act 2020, commenced on 1 January 2021 without much take up.. On Monday 1 February 2021 I had the pleasure of speaking with the the CPA PPSA | MARK MCKILLOP BARRISTER Some of the interesting decisions include: Keon Pty Ltd as trustee for Keon Family Trust v Goldfields Equipment Pty Ltd (In Liquidation) WASC 61, a harsh lesson for a lender relying on an (undrafted) agreement to provide a charge as a security interest (the lender failed). Allied Master Chemists of Australia Limited, Re NSWSC 291, an extension of time case under s588FM where theINTANGIBLE PROPERTY
Mark McKillop is a barrister at the Victorian Bar and nationally accredited mediator specialising in commercial, insolvency and bankinglitigation.
COMMON ISSUES WITH THE PPSA AND HOW TO DEAL WITH THEM AS A I recently presented a video podcast with my learned friend and fellow barrister Amanda Carruthers on the topic “PPS Issues in Insolvency”: see below. The format is to highlight the frequent PPSA issues that we see as barristers and how best to tackle them as apractitioner.
BRIEF TO COUNSEL
Posts about Brief to Counsel written by Mark McKillop. When I started as an articled clerk in the early 90s, one of the senior partners at my firm gave me a copy of a paper, which I have now unfortunately lost, on how to best prepare a brief. PERSONAL PROPERTY SECURITIES ACT 2009 Sandhurst Golf Estates Pty Ltd v Coppersmith Pty Ltd VSC 217. Initial registration of a financing statement on the PPSR is very easy. You simply go to the Personal Property Securities Register (PPSR) website and follow the links, enter the prescribed data, pay a small fee and hit a button or two.The ease of registration, compared to a paper based registry such as land titles or the JUNE | 2016 | MARK MCKILLOP BARRISTER 1 post published by Mark McKillop during June 2016. The PPSR is Ripe for abuse. One of the weaknesses of the Personal Property Security Register (PPSR) is that anyone can go online and lodge a registration for a few dollars in fees by claiming to hold a “security interest” in respect of the personal property of another, with very few immediate consequences. PPS LEASES EXPLAINED, WHAT IS REGULARLY ENGAGED IN THE The courts continue to hammer out the meaning of various basic provisions of the PPSA. The decision in Forge Group Power Pty Limited (in liquidation)(receivers and managers appointed) v General Electric International Inc NSWSC 52 looked at two issues dealing with the reach of the PPSA to leases: What constitutes “regularly engagedin the
WHAT CAN CREDITORS DO IF THE “OFFICIAL RECEIVER” IS THE I've recently had a number of clients ask me questions about the Official Receiver as a bankruptcy trustee in relation to debtors they are chasing. The Official Receiver is a statutory appointee who acts as trustee in bankruptcy for debtors where there is no private appointment of an insolvency practitioner. In effect, the OfficialReceiver
THE RELATION BACK DAY CAN BE MANIPULATED BY A PRIOR VA Liquidators, creditors and directors are very conscious of the "Relation Back Day" in liquidation. It is the day on which the six month "preference period" for the recovery of preferences from creditors ends. It is also the day on which certain longer periods for undoing certain related party transactions involving directors and their associates ends. MARK MCKILLOP BARRISTER Commentary on insolvency, commercial and PPSA law. Photo by mark glancy on Pexels.com. The insolvency reforms aimed at helping small businesses through insolvency, passed in the The Corporations Amendment (Corporate Insolvency Reforms) Act 2020, commenced on 1 January 2021 without much take up.. On Monday 1 February 2021 I had the pleasure of speaking with the the CPA PPSA | MARK MCKILLOP BARRISTER Some of the interesting decisions include: Keon Pty Ltd as trustee for Keon Family Trust v Goldfields Equipment Pty Ltd (In Liquidation) WASC 61, a harsh lesson for a lender relying on an (undrafted) agreement to provide a charge as a security interest (the lender failed). Allied Master Chemists of Australia Limited, Re NSWSC 291, an extension of time case under s588FM where theINTANGIBLE PROPERTY
Mark McKillop is a barrister at the Victorian Bar and nationally accredited mediator specialising in commercial, insolvency and bankinglitigation.
COMMON ISSUES WITH THE PPSA AND HOW TO DEAL WITH THEM AS A I recently presented a video podcast with my learned friend and fellow barrister Amanda Carruthers on the topic “PPS Issues in Insolvency”: see below. The format is to highlight the frequent PPSA issues that we see as barristers and how best to tackle them as apractitioner.
BRIEF TO COUNSEL
Posts about Brief to Counsel written by Mark McKillop. When I started as an articled clerk in the early 90s, one of the senior partners at my firm gave me a copy of a paper, which I have now unfortunately lost, on how to best prepare a brief. PERSONAL PROPERTY SECURITIES ACT 2009 Sandhurst Golf Estates Pty Ltd v Coppersmith Pty Ltd VSC 217. Initial registration of a financing statement on the PPSR is very easy. You simply go to the Personal Property Securities Register (PPSR) website and follow the links, enter the prescribed data, pay a small fee and hit a button or two.The ease of registration, compared to a paper based registry such as land titles or the JUNE | 2016 | MARK MCKILLOP BARRISTER 1 post published by Mark McKillop during June 2016. The PPSR is Ripe for abuse. One of the weaknesses of the Personal Property Security Register (PPSR) is that anyone can go online and lodge a registration for a few dollars in fees by claiming to hold a “security interest” in respect of the personal property of another, with very few immediate consequences. PPS LEASES EXPLAINED, WHAT IS REGULARLY ENGAGED IN THE The courts continue to hammer out the meaning of various basic provisions of the PPSA. The decision in Forge Group Power Pty Limited (in liquidation)(receivers and managers appointed) v General Electric International Inc NSWSC 52 looked at two issues dealing with the reach of the PPSA to leases: What constitutes “regularly engagedin the
WHAT CAN CREDITORS DO IF THE “OFFICIAL RECEIVER” IS THE I've recently had a number of clients ask me questions about the Official Receiver as a bankruptcy trustee in relation to debtors they are chasing. The Official Receiver is a statutory appointee who acts as trustee in bankruptcy for debtors where there is no private appointment of an insolvency practitioner. In effect, the OfficialReceiver
THE RELATION BACK DAY CAN BE MANIPULATED BY A PRIOR VA Liquidators, creditors and directors are very conscious of the "Relation Back Day" in liquidation. It is the day on which the six month "preference period" for the recovery of preferences from creditors ends. It is also the day on which certain longer periods for undoing certain related party transactions involving directors and their associates ends. ABOUT | MARK MCKILLOP BARRISTER Mark McKillop is a barrister at the Victorian Bar. For his Victorian Bar website profile and contact details, including a list of recent cases, click here. Mark accepts briefs in all commercial matters, particularly in insolvency, banking, corporations, property and taxation litigation. Mark McKillop accepts briefs as Counsel and as Mediator in all commercial matters, PPSA | MARK MCKILLOP BARRISTER Some of the interesting decisions include: Keon Pty Ltd as trustee for Keon Family Trust v Goldfields Equipment Pty Ltd (In Liquidation) WASC 61, a harsh lesson for a lender relying on an (undrafted) agreement to provide a charge as a security interest (the lender failed). Allied Master Chemists of Australia Limited, Re NSWSC 291, an extension of time case under s588FM where the PPSA CASE LAW UPDATE Profile Picture Last week I delivered an update on developments in PPSA case law to an audience at Leo Cussens, an update I present twice each year. The seminar covered 10 recent cases and was part of a morning of presentations on the PPSA by various speakers. A copy of the paper and overheads presented COMMON ISSUES WITH THE PPSA AND HOW TO DEAL WITH THEM AS A I recently presented a video podcast with my learned friend and fellow barrister Amanda Carruthers on the topic “PPS Issues in Insolvency”: see below. The format is to highlight the frequent PPSA issues that we see as barristers and how best to tackle them as apractitioner.
FIRST PART 5.3B RESTRUCTURING APPOINTMENT Not just one, two in fact. It’s only taken 6 weeks for the first appointment of a restructuring practitioner under Part 5.3B of the Corporations Act 2001 to be made. The ASIC Published Notice EXPOSURE DRAFT OF THE COVID INSOLVENCY REFORMS RELEASED I would not ordinarily post a link to something I had not read, but this is a pandemic! The Commonwealth announced its proposed insolvency law reforms just 2 weeks ago and has now released an exposure draft of the amending legislation together with an explanatory memorandum. Submissions on the draft are due on Monday, 12 STOPPING SHAM PPSR REGISTRATIONS The PPSR is Ripe for abuse. One of the weaknesses of the Personal Property Security Register (PPSR) is that anyone can go online and lodge a registration for a few dollars in fees by claiming to hold a “security interest” in respect of the personal property of another, with very few immediate consequences.The victim of the sham registration can suffer real prejudice: searches of the A TALE OF A BRIEF IN 29 PARTS 3 thoughts on “ A tale of a brief in 29 parts – tips for junior lawyers briefing counsel in the email age ” Dominique Hogan-Doran 19 August 2013 at 10:58 am. Reblogged this on DOMINIQUE HOGAN-DORAN and commented: Great tips on brief organisation in the information age. Add in a chronology and we’re good to go! BANKRUPTCY NOTICES CAN BE SERVED BY EMAIL One of the first posts on this blog dealt with establishing service of documents by email, tweet or facebook message (link). Now, service of a bankruptcy notice by email has been held to be effective. The relevant case is The Council of the New South Wales Bar Association v Archer (Federal Magistrates Court, Lloyd-Jones FM, UNIT TRUSTS CAN EXPOSE PERSONAL ASSETS IN BANKRUPTCY Most business people know that they should shelter their assets by keeping them out of their own name, so that if they go bankrupt, those assets are not available to the trustee in bankruptcy. But it's also important to make sure that the entities that control those assets are still under the individual's direct or MARK MCKILLOP BARRISTER Commentary on insolvency, commercial and PPSA law. Photo by mark glancy on Pexels.com. The insolvency reforms aimed at helping small businesses through insolvency, passed in the The Corporations Amendment (Corporate Insolvency Reforms) Act 2020, commenced on 1 January 2021 without much take up.. On Monday 1 February 2021 I had the pleasure of speaking with the the CPAINTANGIBLE PROPERTY
Short Summary. In this case the Federal Court confirmed, perhaps unsurprisingly, that intellectual property, as an intangible, is “personal property” for the purposes of the PPSA and capable of being subject of a security interest by means of retention of title. The defendant, GrowthOps, argued that a “conditional sale agreement PPSA | MARK MCKILLOP BARRISTER The case involved the sale of various business and assets of the failed Sargon Group. Sargon Group promoted itself as a “tech-driven trustee services, fund operations and custodial services” business with more than $55 billion in assets under trusteeship or supervision. Mesopotamian King Sargon ponders the meaning of “securityinterest”.
PPSA CASE LAW UPDATE Profile Picture Last week I delivered an update on developments in PPSA case law to an audience at Leo Cussens, an update I present twice each year. The seminar covered 10 recent cases and was part of a morning of presentations on the PPSA by various speakers. A copy of the paper and overheads presentedBRIEF TO COUNSEL
A barrister is briefed for specialist advocacy skills or for advice, or both. Both advocacy and the giving of advice involve the communication of ideas in a clear and simple form. An advocate uses those ideas to persuade, whilst counsel preparing an advice uses them to inform and advise. In both cases the barrister must master therelevant
COMMON ISSUES WITH THE PPSA AND HOW TO DEAL WITH THEM AS A I recently presented a video podcast with my learned friend and fellow barrister Amanda Carruthers on the topic “PPS Issues in Insolvency”: see below. The format is to highlight the frequent PPSA issues that we see as barristers and how best to tackle them as apractitioner.
PERSONAL PROPERTY SECURITIES ACT 2009 Sandhurst Golf Estates Pty Ltd v Coppersmith Pty Ltd VSC 217. Initial registration of a financing statement on the PPSR is very easy. You simply go to the Personal Property Securities Register (PPSR) website and follow the links, enter the prescribed data, pay a small fee and hit a button or two.The ease of registration, compared to a paper based registry such as land titles or the JUNE | 2016 | MARK MCKILLOP BARRISTER Attached to the 24 April 2016 email was a copy of a Security Deed (titled “Distributor License Purchase Vendor Finance Performance Security Deed”) which purported to be a charge granted by NAB in favour of OenoViva and Mr Garrett as trustee for the Andrew Garrett Family Trust ABN 78 761 760 976. The Security Deed relevantly statedthat
WHAT CAN CREDITORS DO IF THE “OFFICIAL RECEIVER” IS THE I've recently had a number of clients ask me questions about the Official Receiver as a bankruptcy trustee in relation to debtors they are chasing. The Official Receiver is a statutory appointee who acts as trustee in bankruptcy for debtors where there is no private appointment of an insolvency practitioner. In effect, the OfficialReceiver
THE RELATION BACK DAY CAN BE MANIPULATED BY A PRIOR VA Liquidators, creditors and directors are very conscious of the "Relation Back Day" in liquidation. It is the day on which the six month "preference period" for the recovery of preferences from creditors ends. It is also the day on which certain longer periods for undoing certain related party transactions involving directors and their associates ends. MARK MCKILLOP BARRISTER Commentary on insolvency, commercial and PPSA law. Photo by mark glancy on Pexels.com. The insolvency reforms aimed at helping small businesses through insolvency, passed in the The Corporations Amendment (Corporate Insolvency Reforms) Act 2020, commenced on 1 January 2021 without much take up.. On Monday 1 February 2021 I had the pleasure of speaking with the the CPAINTANGIBLE PROPERTY
Short Summary. In this case the Federal Court confirmed, perhaps unsurprisingly, that intellectual property, as an intangible, is “personal property” for the purposes of the PPSA and capable of being subject of a security interest by means of retention of title. The defendant, GrowthOps, argued that a “conditional sale agreement PPSA | MARK MCKILLOP BARRISTER The case involved the sale of various business and assets of the failed Sargon Group. Sargon Group promoted itself as a “tech-driven trustee services, fund operations and custodial services” business with more than $55 billion in assets under trusteeship or supervision. Mesopotamian King Sargon ponders the meaning of “securityinterest”.
PPSA CASE LAW UPDATE Profile Picture Last week I delivered an update on developments in PPSA case law to an audience at Leo Cussens, an update I present twice each year. The seminar covered 10 recent cases and was part of a morning of presentations on the PPSA by various speakers. A copy of the paper and overheads presentedBRIEF TO COUNSEL
A barrister is briefed for specialist advocacy skills or for advice, or both. Both advocacy and the giving of advice involve the communication of ideas in a clear and simple form. An advocate uses those ideas to persuade, whilst counsel preparing an advice uses them to inform and advise. In both cases the barrister must master therelevant
COMMON ISSUES WITH THE PPSA AND HOW TO DEAL WITH THEM AS A I recently presented a video podcast with my learned friend and fellow barrister Amanda Carruthers on the topic “PPS Issues in Insolvency”: see below. The format is to highlight the frequent PPSA issues that we see as barristers and how best to tackle them as apractitioner.
PERSONAL PROPERTY SECURITIES ACT 2009 Sandhurst Golf Estates Pty Ltd v Coppersmith Pty Ltd VSC 217. Initial registration of a financing statement on the PPSR is very easy. You simply go to the Personal Property Securities Register (PPSR) website and follow the links, enter the prescribed data, pay a small fee and hit a button or two.The ease of registration, compared to a paper based registry such as land titles or the JUNE | 2016 | MARK MCKILLOP BARRISTER Attached to the 24 April 2016 email was a copy of a Security Deed (titled “Distributor License Purchase Vendor Finance Performance Security Deed”) which purported to be a charge granted by NAB in favour of OenoViva and Mr Garrett as trustee for the Andrew Garrett Family Trust ABN 78 761 760 976. The Security Deed relevantly statedthat
WHAT CAN CREDITORS DO IF THE “OFFICIAL RECEIVER” IS THE I've recently had a number of clients ask me questions about the Official Receiver as a bankruptcy trustee in relation to debtors they are chasing. The Official Receiver is a statutory appointee who acts as trustee in bankruptcy for debtors where there is no private appointment of an insolvency practitioner. In effect, the OfficialReceiver
THE RELATION BACK DAY CAN BE MANIPULATED BY A PRIOR VA Liquidators, creditors and directors are very conscious of the "Relation Back Day" in liquidation. It is the day on which the six month "preference period" for the recovery of preferences from creditors ends. It is also the day on which certain longer periods for undoing certain related party transactions involving directors and their associates ends. ABOUT | MARK MCKILLOP BARRISTER Mark McKillop is a barrister at the Victorian Bar. For his Victorian Bar website profile and contact details, including a list of recent cases, click here. Mark accepts briefs in all commercial matters, particularly in insolvency, banking, corporations, property and taxation litigation. Mark McKillop accepts briefs as Counsel and as Mediator in all commercial matters,MARK MCKILLOP
Some of the interesting decisions include: Keon Pty Ltd as trustee for Keon Family Trust v Goldfields Equipment Pty Ltd (In Liquidation) WASC 61, a harsh lesson for a lender relying on an (undrafted) agreement to provide a charge as a security interest (the lender failed). Allied Master Chemists of Australia Limited, Re NSWSC 291, an extension of time case under s588FM where PPSA | MARK MCKILLOP BARRISTER The Supreme Court of NSW has decided a PPSA priority contest against the owner of leased Caterpillar equipment, in a fight with the receivers and managers of the equipment’s insolvent lessee. The case is a warning to those used to ownership and title retention basedforms of security.
COMMON ISSUES WITH THE PPSA AND HOW TO DEAL WITH THEM AS A I recently presented a video podcast with my learned friend and fellow barrister Amanda Carruthers on the topic “PPS Issues in Insolvency”: see below. The format is to highlight the frequent PPSA issues that we see as barristers and how best to tackle them as apractitioner.
PPSA UPDATE
PPSA Update – February 2020 Paper. Leave a reply. In February 2020 I delivered a now annual seminar providing an update on recent PPSA developments at the Leo Cussen Institute. The seminar covered three interesting recent cases: Bluewaters Power 1 Pty Ltd v The Griffin Coal Mining Company Pty Ltd. WASC 438 (Bluewaters) DEBTOR IN POSSESSION Debtor in Possession Reforms Commence with Not Much of a Bang. The insolvency reforms aimed at helping small businesses through insolvency, passed in the The Corporations Amendment (Corporate Insolvency Reforms) Act 2020, commenced on 1 January 2021 without much take up. On Monday 1 February 2021 I had the pleasure of speaking withthe the CPA
EXPOSURE DRAFT OF THE COVID INSOLVENCY REFORMS RELEASED I would not ordinarily post a link to something I had not read, but this is a pandemic! The Commonwealth announced its proposed insolvency law reforms just 2 weeks ago and has now released an exposure draft of the amending legislation together with an explanatory memorandum. Submissions on the draft are due on Monday, 12HUMAN RESOURCES
Posts about Human resources written by Mark McKillop. There is a well-known principle that a restraint of trade is prima facie void as contrary to public policy because it discourages competition and the restrained party from earning a living. In considering whether a restraint of trade is void at common law, a Court will consider if as a threshold matter the restraint is no more extent thanPPSR REGISTRATION
Mark McKillop is a barrister at the Victorian Bar and nationally accredited mediator specialising in commercial, insolvency and bankinglitigation.
STOPPING SHAM PPSR REGISTRATIONS The PPSR is Ripe for abuse. One of the weaknesses of the Personal Property Security Register (PPSR) is that anyone can go online and lodge a registration for a few dollars in fees by claiming to hold a “security interest” in respect of the personal property of another, with very few immediate consequences.The victim of the sham registration can suffer real prejudice: searches of theTwitter LinkedIn
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PPSA – RECENT DEVELOPMENTS – THE O’KEEFFE AND PSYCHE CASESBy Mark McKillop
on 12 August 2019
• ( Leave a comment)
I recently presented a paper to Leo Cussens during a half day PPSA conference on the topic recent developments in the PPSA. A full copy of the paper can be found at this link: Leo Cussens – PPSA – 23.5.19 The PPSA is relatively new (for a law CAVEATS – A REFRESHERBy Mark McKillop
on 16 March 2018
• ( 1 Comment
)
Over the past 6 months I have made several presentations to client law firms, and delivered a CPD session for Foleys List, on the basics of caveats. The presentation lasts about 40 minutes and takes an overview of the subject, accompanied by a more detailed paper to be CYCLING TECH – DI2 SHIFTINGBy Mark McKillop
on 16 March 2018
• ( 5 Comments
)
After some years of scepticism I am a recent convert to electronic shifting. My new bike came with the Ultegra 6870 Di2 group set The best part about Di2 is that the gear changes are made electronically rather than manually. Electric motors in the front and rearderailleurs
STOPPING SHAM PPSR REGISTRATIONS – AGAIN, AND AGAINBy Mark McKillop
on 20 June 2016
• ( 1 Comment
)
The PPSR is Ripe for abuse One of the weaknesses of the Personal Property Security Register (PPSR) is that anyone can go online and lodge a registration for a few dollars in fees by claiming to hold a “security interest” in respect of the personal property ofanother,
NO FRIES WITH THAT: DRIVERLESS CARSBy Mark McKillop
on 26 April 2016
• ( Leave a comment)
A great insight at the link below into the business winners and losers from driverless cars – just 5 or 10 years away. Personally, I’m going to miss impulse buying at the macca’s drive through. No more macca’s drive through A QUESTIONABLE PRACTICE: PPS VESTING PROVISIONS ON APPOINTMENT DO NOT EXTINGUISH A FINANCIER’S PERFECTED INTEREST IN LEASED EQUIPMENT ONTHE PPSR.
By Mark McKillop
on 7 April 2016
• ( 1 Comment
)
This post deals with the extent to which a financier’s security interest is really affected by the vesting provision, section 267, in the PPSA. There is a current practice of letters being dispatched to the holders of any unperfected security interests in leased equipment, claiming vesting of all interest in the collateral in issue, without regard to upstream financier’s interests. The fact is that there are good arguments that the financier’s interest is not affected, even if the owner of the equipment who has provided the lease may lose its interest because of vesting. THE HELL OF THE ALPS – A BARRISTER CYCLING THE PEAKS CHALLENGEFALLS CREEK
By Mark McKillop
on 4 April 2016
• ( 3 Comments
)
On 13 March 2016 I woke at Falls Creek ready to take on one of Australia’s toughest single day bicycle rides, the Peaks Challenge Falls Creek, also known as the Three Peaks. Entrants are required to cover 235 km of road, climbing three peaks on the journey, in PPS LEASES EXPLAINED, WHAT IS REGULARLY ENGAGED IN THE LEASING OF GOODS AND WHAT IS A PPSA FIXTURE?By Mark McKillop
on 22 February 2016
• ( 1 Comment
)
The courts continue to hammer out the meaning of various basic provisions of the PPSA. The decision in Forge Group Power Pty Limited (in liquidation)(receivers and managers appointed) v General Electric International Inc NSWSC 52 looked at two issues dealing with the reach of the PPSA to COURT INJUNCTS SHAM PPSR REGISTRATIONSBy Mark McKillop
on 23 May 2014
• ( 3 Comments
)
Sandhurst Golf Estates Pty Ltd v Coppersmith Pty Ltd VSC 217 Initial registration of a financing statement on the PPSR is very easy. You simply go to the Personal Property Securities Register (PPSR) website and follow the links, enter the prescribed data, pay asmall fee
WHEN IS A DEFECT IN A PPSR REGISTRATION FATAL? A DEFECT IN THE ACN OF THE SECURED PARTY NOT MISLEADINGBy Mark McKillop
on 28 April 2014
• ( 1 Comment
)
Case Note – Future Revelation Ltd v Medica Radiology & Nuclear Medicine Pty Ltd NSWSC 1741 It is often the case that an error is made in the ACN, ABN or even name of a party, or in the serial number of collateral, when registering on the WHAT A DIFFERENCE A DAY MAKES – WHEN DOES THE RELATION BACK PERIODSTART?
By Mark McKillop
on 23 April 2014
• ( 1 Comment
)
Re Weston Application; Employers Mutual Indemnity (Workers Compensation) Ltd v Omni Corporation Pty Ltd NSWSC 264 In insolvency law the calculation of precise periods of time is important. Insolvency practitioners need to know exactly when limitation periods end in order to preserve potential claims. The “relation back period” A TALE OF A BRIEF IN 29 PARTS – TIPS FOR JUNIOR LAWYERS BRIEFING COUNSEL IN THE EMAIL AGEBy Mark McKillop
on 14 August 2013
• ( 3 Comments
)
When I started as an articled clerk in the early 90s, one of the senior partners at my firm gave me a copy of a paper, which I have now unfortunately lost, on how to best prepare a brief. I think of that paper from time to timePOSTS NAVIGATION
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Mark McKillop is a barrister at the Victorian Bar and nationally accredited mediator specialising in commercial, insolvency and bankinglitigation.
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Archives Select Month August 2019 (1) March 2018 (2) June 2016 (1) April 2016 (3) February 2016 (1) May 2014 (1) April 2014 (2) August 2013 (1) July 2013 (3) December 2012 (2) August 2012 (1) July 2012 (1) June 2012 (1) May 2012 (3) April 2012 (3) March 2012 (5) February 2012 (5) December 2011 (1) November 2011 (1) October 2011 (3)LATEST POSTS
* PPSA – Recent Developments – the O’Keeffe and Psyche cases * Caveats – A refresher * Cycling Tech – di2 shifting * Stopping sham PPSR Registrations – again, and again * No fries with that: driverless cars * A QUESTIONABLE PRACTICE: PPS vesting provisions on appointment do not extinguish a financier’s perfected interest in leased equipmenton the PPSR.
* The Hell of the Alps – a barrister cycling the Peaks ChallengeFalls Creek
* PPS Leases explained, what is Regularly Engaged in the Leasing of Goods and what is a PPSA Fixture? * Court Injuncts Sham PPSR Registrations * When is a defect in a PPSR registration fatal? A defect in the ACN of the secured party not misleadingBLOGROLL
* Amicae Curiae A site focussed on women in the law, in legal education, as students as academics, and within the legal profession, and with broader articles of legal interest * Andrew Downie – The CIvil Lawyer Commercial law and practice * Carrie Rome-Sievers, Barrister Developments in insolvency and corporations law * James Stewart – Retail Postcard Trends and developments in the global retail sector by consulting and insolvency firm Ferrier Hodgson’s retail specialist, James Stewart. * Roberty Hay – Property Law BlogProperty with
occasional insolvency pieces * Sam Hopper – Retail Leases, Property and Insolvency A great source for retailleasing
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