Personal Property Security Act
Our client had been engaged as a contractor on a project in Sydney. The developer had failed to make the due payments and our client had refused to continue working until the outstanding debt had been cleared. Clearly short of funds, the developer had proposed a personal guarantee instead. In lieu of the inadequate form proposed by the developer, we prepared a bespoke form of guarantee that better protected our client’s interests, including in respect of the Personal Property Security Act 2009. Separately, we have advised several clients on amendments to their standard leasing and sale agreements (including on retention of title provisions) in light of the significant changes made under the Personal Property Security Act 2009.
May 16, 2016
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