Directors protect your business assets
Business Planning, Business News, Contracts, Dispute, Lawyers, Succession Planning, Migration
You may have recently become aware of important changes in the legal environment, which have major implications for your business.
As part of the new Personal Property Securities ("PPS") regime, a person who has an interest in property may register that interest on the Personal Property Securities Register ("PPSR"). Some interests that may now be treated as security under the the new PPSR include a lessor's interest in leased equipment or an owner's interest in equipment sold on retention of title terms.
Essentially, a lessor/seller who uses the PPSR may reduce their legal risk by registering a security interest in the PPSR.
In the event of your client's insolvency or bankruptcy, failure to ensure that charges and other security interests are properly registered may have disastrous consequences for your company.
To help you protect your business, we offer a free pre-assessment to discuss the identification of your property interests, registration of your assets, and/or implementing your risk management strategies. Our firm has extensive experience dealing with small and medium size businesses in identifying and mitigating risk.
We suggest you contact us to ensure that:
• equipment charges have been successfully migrated to the PPSR from other registers, free of discrepancies; and/or
• security interests recorded in your existing contracts are property registered on the PPSR; and/or
• your documentation, such as hire agreements, terms and conditions, etc. sufficiently provide for the retention of title to your assets.
We also provide general commercial legal services including real property, leasing, contract negotiation and business sale and acquisition services that will add value and support to your business.
Call us now on 03 9014 1299 for free phone consultation or to make an appointment for a free pre-assessment.
We look forward to meeting you,
, Business Planning
, Contracts, Dispute, Lawyers, Succession Planning, Migration