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PPSA Precedent - NSW Supreme Court finds in favour of Trade Credit Supplier against Liquidator

A TurksLegal client recently had success in the Supreme Court of NSW obtaining orders confirming its retention of title rights which were denied by the liquidators.

In handing down its decision In the matter of Gelpack Enterprises Pty Ltd (in liquidation) [2015] NSWSC 1558 (‘Gelpack’), the Supreme Court provided useful guidance which will assist suppliers in the recognition of their Purchase Money Security Interest under the Personal Property Securities Act 2009 (‘PPSA’). This decision also provides guidance to suppliers on the form of acceptance of terms and conditions of trade required in order to trigger the grant of security interest. Gelpack is one of the few decisions available to date where the application of PPSA has been considered in a practical context.

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