Media Release | 19 April 2021
Hall & Wilcox has launched the market-first online PPSA Checklist, an issue-spotting tool to help insolvency practitioners streamline their assessment of creditor claims.
Assessing creditor securities is a fundamental part of most insolvency appointments. Determining how the Personal Property Securities Act (PPSA) impacts the claim is often a key part of such assessments. However, it can be complicated, especially as the law continues to rapidly develop in this field.
The new PPSA Checklist helps insolvency practitioners and their teams to identify the main issues that a creditor may face in establishing their claimed security over assets. It produces a report that explains those issues and their potential impact on the creditor’s claim, and a transcript to record the details of the assessment.
The Checklist streamlines the assessment of creditor claims and can assess multiple registrations by the one creditor. It provides consistency, to give comfort that the same questions are considered in every creditor review, regardless of which staff member does the assessment.
The Hall & Wilcox team will continually update the PPSA Checklist with key legal developments in both legislation and case law. This is particularly important in the context of a constantly evolving area of law, such as the PPSA.
Rather than charging for the Checklist, Hall & Wilcox will make it available to firms for an annual contribution of $250 (or more) to our nominated charity. For the first two years, we ask that you contribute to The Song Room. The Song Room is a for-purpose organisation that works in partnership with schools and communities across Australia to provide disadvantaged children with high-quality music and arts learning programs to improve student outcomes, school engagement and opportunities for success.
Hall & Wilcox Partner Katherine Payne said: ‘We are excited to launch this market-first product, which uses our extensive PPSA experience to assist insolvency practitioners in their review of secured creditor claims.’
The PPSA Checklist is another example of Hall & Wilcox’s Smarter Law approach to client problems. We use innovation to continuously improve the way we deliver legal services. We are the firm that delivers Smarter Law. Smarter Law is behind everything we do, including how we advise, protect, defend and enable our clients’ organisations in ways that actually work better for them. This involves making real client connections, understanding their legal and business challenges, and then putting our heads together with theirs to creatively get from problem to solution.
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