The decision in RPPS v Brookfield is the first recorded instance of s 151 of the PPSA being enforced (with a $30,000 penalty imposed for an improper registration). It serves as a caution to those making spurious registrations, but reasonably diligent and responsible parties should have no cause for alarm.
Australia, Insolvency & Restructuring, Litigation, Real Estate, Gilbert + Tobin, Personal Property Securities Act 2009 (Australia), Administrative Appeals Tribunal
The decision in RPPS v Brookfield is the first recorded instance of s 151 of the PPSA being enforced (with a $30,000 penalty imposed for an improper registration). It serves as a caution to those making spurious registrations, but reasonably diligent and responsible parties should have no cause for alarm.
Overview of section 151 of the Personal Property Securities Act 2009
Australia, Insolvency & Restructuring, Litigation, Gilbert + Tobin, Personal Property Securities Act 2009 (Australia), Administrative Appeals Tribunal