Don’t go all in unless you are coveredDownload
The print industry is hyper competitive and credit risk can become a bit like a game of Texas Hold’Em poker. The new PPSR is potentially a trump card for printers who want to minimise credit risk by getting into a better position against banks and liquidators. You’ll know what I mean if you’ve been an unsecured creditor during an insolvent administration. Don’t hold your breath waiting for a dividend because the priority and secured creditors will get the first bite.
The Personal Property Securities Register (PPSR) is a massive change to the law and also the economy. Launched a year ago, it consolidates more than 70 separate security registers, including Register of Encumbered Vehicles (REVs) and the ASIC register of company charges, into a single online portal, which is accessible at www.ppsr.gov.au.
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Published in: ProPrint Magazine, April 2013