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The latest issue of the Insolvency Law Journal (Volume 22 Part 1) contains the following material:
Protecting the prepaying buyer of goods from the seller’s insolvency – Dr Rasiah Gengatharen
Where a buyer has paid for goods in advance of delivery, the buyer runs the risk of losing both the goods and the money paid if the seller becomes insolvent. There are legal avenues that the prepaying buyer can pursue, but they have their limitations, are inaccessible to most buyers, and ill-suited for protecting prepayments. This article will argue that there is a need for legal reform to enhance the legal position of the prepaying buyer. It examines two strategies which could be adopted to protect the prepaying buyer. While neither would completely eliminate the risks posed by the insolvency of the seller, they nonetheless deserve consideration.
Vesting of personal property in insolvency under the PPSA – Matthew Broderick and David Morrison
The Personal Property Securities Act 2009 (Cth) and the new Div 2A of Pt 5.7B of the Corporations Act 2001 (Cth) both commenced on 30 January 2012, heralding a new regime providing for the vesting of unperfected security interests in bankruptcy, liquidation and voluntary administration. This article addresses the perils of non-perfection and late registration of security interests under the new personal property securities regime.
RECENT DEVELOPMENTS – David Morrison
- Treatment of costs of litigation in liquidation and bankruptcy – Dr Oren Bigos
REPORT FROM NEW ZEALAND – Lynne Taylor
- Recent decisions under the Personal Property Securities Act 1999 (NZ)