Twenty days and twenty nights, I was wrong and the lawyers were right, all along: register your security interest on the PPS register within 20 business days!

Case Note: Re Cardinia Nominees Pty Ltd [2013] NSWSC 32

Facts of the case

Cardinia Nominees Pty Ltd (Cardinia) agreed to lend Inika Pty Ltd (Inika) the sum of $750,000, in exchange for the issue of convertible bonds to Cardinia. The loan was secured by a charge in favour of Cardinia over the whole of Inika’s assets.

Filed under:
Australia, New South Wales, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Corporations Act 2001 (Australia)
Authors:
John Poulsen , Carl Black , Louise A. Boyce , Mark Palermo
Location:
Australia
Firm:
Squire Patton Boggs