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Director Christine Cameron with local businessman Wayne Daniels.

Christine Cameron with Graham 'Snow' & Christine Kelly.

Our team.

Our Partners - Christine Cameron and Jenny Thompson

Registering Security Interests over your Assets

Often business owners set up a number of entities to operate their business, to offer asset protection in case the business goes bankrupt.

In the case that your trading entity fails, new rules allow the liquidator to sell all assets used in the trading entity, even if they are owned by someone else. So for example, if your vehicles are owned by a partnership but are used in your company and the company goes bankrupt, the liquidators could sell the vehicles to pay company creditors. The partnership would only be an unsecured creditor and may not get payment for the vehicles.

New Commonwealth laws have been enacted which allow you to register a charge over your assets when they are hired, borrowed or used by someone else, even to a relative/associate. This gives the owner protection in case the user of the asset becomes bankrupt.

If you are in this situation, you should consider registering a charge under the Personal Property Security Act (PPSA).

The PPSA transitional rules which offered protection for interests which existed before January 2012 end on 30 January 2014.

If you have any questions about registering security interests over your assets, please contact this office.

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