CRUNCH! Issue 2

May 2011

Is it Crunchtime for your clients yet?

As most of you may know, implementation of the Personal Properties Securities Reform (“PPSR”) is nigh! (Although its start date has been postponed until 11 October 2011).

The PPSR will see a complete overhaul of the process for securing finance in Australia. It aims to make it easier for businesses to use assets to obtain finance, whilst promoting micro and SME credit, through clearer rules for protecting and enforcing secured interests in property.

However, as you read through this newsletter, it will become apparent that the regime may have its complexities and will provide new challenges to the insolvency industry.

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