S3 Episode 6: Disputing a PPSR Registration – A Practical Guide
Nov 22, 2021
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Mark McKillop, expert in PPSR registrations, discusses the practical guide on disputing a PPSR registration. He covers the administrative and judicial processes, advantages of judicial over registrar redress, tips, pitfalls, and the importance of understanding obligations for registration.
Disputing a PPSR registration offers administrative or judicial routes - administrative option is cheaper but slower, judicial process is faster and more effective with court oversight.
Registrar manages the PPSR registration process, requiring claims of security interests with minimal document submissions, while removal obligations exist if the secured party changes status.
Deep dives
Process Overview of PPSR Registration Disputes
The PPSR registration dispute process involves administrative and judicial routes. The administrative process allows for cheaper but slower resolution, with the registrar having the final say. Conversely, the judicial process, though more expensive, provides a faster and more effective resolution with court oversight.
Key Information on PPSA Registration
The PPSA Register is maintained by the Registrar of Personal Properties, recording security interests in personal property. Registration does not require document submission but only claims of security interests. While documents can be attached, it's rarely done in practice, except for peculiar cases.
Registering and Removing PPSR Registrations
Registering involves submitting a financing statement or a change statement, adhering to specific requirements. Removal obligations exist if the secured party ceases to be secured, with civil penalties for non-compliance. Documentation should include specific details and be in writing for clarity.
Judicial Process for PPSR Registration Disputes
In the judicial process, the court can issue orders to register or remove a financing statement. The court's jurisdiction extends to various courts, allowing for a quick resolution. While costly, the judicial process provides an expedited and definitive resolution.
Mark McKillop addresses how to go about removing or amending a PPSR registration. He discusses the administrative and judicial processes for disputing a PPSR registration, the nature of the judicial process, and some tips and pitfalls of disputing the registration.
As part of the presentation, he also looks into the advantages (albeit at a cost) of the judicial process over redress by the Registrar, where the Registrar has had a blanket policy of not acting where opposition is made by the secured party.
A copy of all materials referenced in the podcast can be accessed here: https://markmckillopbarrister.com/2021/10/05/disputing-a-ppsr-registration-a-practical-guide/
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