There is a general principle adopted by the Courts and judiciary that there should be finality in any litigation, this means that there comes a point when the Courts will not allow parties to re-ventilate the issues. It normally follows a contested final hearing or any appeal of that decision.
If used correctly, the PPSR can provide a platform for security interests to be registered and made public to anyone who wishes to search against a grantor or registration number. However if we fall victim to a PPSR faux pa, we face the ultimate risk - having an invalid registration.
At first blush, it would appear obvious that a business-owner’s association with a bikie gang would need to be disclosed to an insurer given the reputation of gangs and the increased risk of harm to the business. But is this the case where the business is that of a gentleman’s club?
How is the question of whether the assets held by an insolvent corporate trustee are ‘property of the company’ determined? What effect that had on the Commonwealth claim to be paid in priority to unsecured creditors?